Skip navigation
Retail Traffic

Goliath vs. Gladiator

Mall of America may be a shopping icon in the United States, but Simon Property Group CEO David Simon says it is not one of the mall REIT's star properties. That honor is reserved for Las Vegas' flashy Forum Shops, which produces three times more in annual sales per square foot. In recent court testimony regarding a dispute over Simon's purchase of half of TIAA's stake in the 2.6 million-square-foot behemoth, David Simon said Mall of America only recovers about 70 percent of costs from its tenants compared to the Simon portfolio average of 80 percent. He blamed the center's lackluster performance on too much competition.

Mall of America

Bloomington, Minn.

Total GLA: 2.6 million square feet

Total GLA Excluding Anchors: 1.7 million square feet

Anchors: Bloomingdale's, Macy's, Nordstrom, Sears, General Cinema, Oshman's Super Sport USA

Year Opened: 1992

Center Cost: $635 million

Annual Sales Per Sq. Ft.: est. at $346

Annual Visitors: 42 million per year

The Forum Shops at Caesars

Las Vegas

Total GLA: 510,297 square feet

Total GLA Excluding Anchors: 467,297 square feet

Anchors: Nike Town

Year Opened: 1992

Center Cost: $150 million

Annual Sales Per Sq. Ft.: $1,300

Annual Visitors: 18 million per year

TAGS: News
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish