Meet the Mall Managers – Shopping Center Secrets from the ...€¦ · Meet the Mall Managers –...

transcript

Meet the Mall Managers –Shopping Center Secrets from the Sources!

Presenters: Maureen Hooley Bausch – Triple Five Group, Mall of America

Jodi Settersten Coyer – CBL & Associates Properties, Burnsville Center

Nancy Litwin – Cypress Equities, Eden Prairie Center

Chad Macy – JLL, Rosedale Center

Paula Mueller – Glimcher Properties, Northtown Mall

Joan Suko – General Growth Properties, Ridgedale Center

Jennie Zafft – UCR Asset Services, The Shoppes at Arbor Lakes

Moderator:Mike Sims, Mid-America Real Estate – Minnesota, LLC

MOA PHASE ICSIGNAGE CONCEPT

Burnsville Center

• Anchor tenants include Dick's Sporting Goods, Gordman's, JCPenney, Macy's, Sears, Paragon Odyssey 15

• 137 specialty retailers including Aéropostale, American Eagle Outfitters, Best Buy Mobile, Charlotte Russe, Crazy 8, dELiA*s, dressbarn, Gymboree, Hollister Co., Teavana, Victoria’s Secret and Zumiez

• 11 quick-serve restaurants and five family sitdown restaurants

Burnsville Center• Opening Date: 1977• Total Center GLA 1,045,242 sf• Site: 98 acres• Parking: 5,994 spaces• Total Stores: 137• Trade Area Population:828,405

Burnsville CenterFun Fact

Reality TV premier

Season 1, episode 5 of Food Court Wars

Hosted by Tyler Florence

Winner of one year free rent -Pimento Jamaican Kitchen

Eden Prairie Center

Eden Prairie Center• Favorite shopping, family entertainment and dining destination for residents in

the affluent and fast-growing southwest suburbs of Minneapolis-St. Paul• Conveniently close to I-494 and Highway 212 • Anchored by Von Maur, Target, Kohl’s, Sears and JCPenney• Entertainment wing features 18-screen AMC Theatre, Barnes & Noble, Wildfire

Steaks, Chops & Seafood, Biaggi’s Ristorante Italiano, The Prairie Tap House, Panera Bread and an impressive food court with eight quick-serve restaurants and a towering 3-story stone fireplace

• Popular amenities include:• family first parking spaces• indoor children’s play area• family restrooms with private nursing suites• soft seating areas• free Wi-Fi

Eden Prairie Center• Annual visits – nearly 12 million• 3rd Largest Shopping Center in metro

• over 1.3 million sq. ft.• over 87 acres• 120 shops and restaurants

• TA Average HH Income - $109,964• Average HH Income within 3 miles of the center is $121,842, significantly

higher than the Minneapolis metro average of $85,224 and the U.S. average of $71,317

• TA Population is projected to increase by 7% over next five years• Southwest LRT (METRO Green Line Extension) – Eden Prairie Town Center

Station is proposed to open 2019

Rosedale CenterCenter at a Glance

• Centrally located between Minneapolis & St. Paul

• Situated on Interstate 35W and Hwy 36

• Anchor tenants include Macy’s, JCPenney, Herberger’s and AMC Theatres

• Key retailers such as: Apple, Buckle, Coach, Sephora, Williams-Sonoma, Bose, Pandora, Forever 21 and Hot Mama

• Seven full-service restaurants and three fast casual concepts

Rosedale CenterStats & Demographics

• Opening Date: 1969• Expansion Date: 2006• Total Center GLA 1,147,636 sf• Site: 72.2 acres• Parking: 5,759 spaces• Total Stores: 164• Levels: 2

Trade Area 15 miles • Population: 1,836,047• Total Households: 746,469• Avg. Household $: $77,312• Median Age: 35.2 yrs

*Source: ESRI 2013

• There are more than ten colleges within 10 miles of Rosedale Center representing more than 120,000 students

• 14 million visitors annually

Rosedale CenterFun Facts

Mall In A Minute – NORTHTOWN MALLOwned and Managed by Glimcher Realty TrustBuilt by the Robert Muir Companies in 1972Home to 80+ Retailers, and growingAnchored by Herberger’s, Best Buy, Burlington,

Becker Furniture, LA Fitness, Home Depot, and coming soon, Hobby Lobby

Serves a demo of 286K consumers with an average HH income of $84K

5.5 million annual customer visits

Mall In A Minute – NORTHTOWN MALLChange Has Been Our Only Constant

All of our anchor stores are under ten years old

85% of our retailers are new or have been remodeled in the last five years

Glimcher is actively marketing our outparcels for sale or lease and are looking for great partners!

Mall In A Minute – NORTHTOWN MALLFUN FACT: Robert Muir grand-opened Northtown Mall with

Hollywood pals Ernest Borgnine and singer Peggy Lee(Dudes - they were seriously cool at the time)

The Ridgedale Shopper

Average Age

Population

Households

% HH Earning $100K+

Avg. HH Income

% Pop 25+ with Bachelor’sDegree or Higher

774,706

311,229

$93,619

New Store Openings

Ridgedale Drive Improvements

• Size: 372,000 sf

• Location: I-94/I-694 & Hemlock Lane in Maple Grove• Located in the Arbor Lakes retail area which offers approximately 2M sf

of retail space

• Recent Leasing Activity:• Whole Foods opened July 2013• Patrick’s Restaurant & Bakery opened January 2014• Glitz Gowns opened January 2014• Cost Plus World Market opening June 2014• Punch Pizza opening Summer 2014• F21 Red (Forever 21) concept opening Summer 2014• VOM FASS opening Summer 2014• Victoria’s Secret/Pink relocation/expansion opening Summer 2014

Fun Fact: Construction is underway in the Trader Joe’s/Whole Foods/Cost Plus World Market parking lot to increase capacity by 15% and improve the layout to reduce congestion.