Dive Summary:

• The Mall of America is preparing to grow its retail space and has begun marketing for its new Phase 1C expansion.
• The expansion will include an upscale 347-room hotel and 150,000 sq. ft. of expanded retail space.
• The new space will likely be geared toward more upscale retailers and the expansion is set for completion by fall of 2015.

Dive Insight:

The expansion will most likely target luxury retailers needing a smaller amount of physical in-store space to effectively market their less extensive product lines. Mall of America is planning to finalize the financial end of the deal within weeks and leasing efforts for the space will presumably begin to ratchet up early next year.