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
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
• 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
37.7
774,706
311,229
32%
$93,619
43%
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.
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
