The recent problems plaguing shopping malls nationwide, which began well before the pandemic shutdown, have been well-documented. One local example is Burnsville Center, the 43-year old shopping complex that went into foreclosure earlier this year. CBL Properties’ 522,000-square-foot portion of the mall was recently sold at an auction for $17.96 million.
Plagued by failing anchor stores, the owners of malls nationwide have been trying various strategies to replace the revenue previously earned from large tenants. Some strategies have worked better than others, and the long term fate of many malls is still in doubt, according to experts.
Fewer than half of the 1,500 enclosed malls built from 1956 to 2005 survive today, according to the real-estate research website Real Daily.
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Hennepin County has backed away from plans to move one of its libraries to Southdale Center, citing the economic fallout of the COVID-19 pandemic and the evolving plans of other players at the shopping mall.
County officials had said moving Southdale Library would save money and provide an accessible, community-oriented place to pick up library materials. Now, they re back at the drawing board to map out the future of the Edina library and the 40 other libraries in the county system.
The Hennepin County Board in 2019 asked staff to negotiate an agreement to relocate the sprawling Southdale Library from its longtime home on York Avenue in Edina to Southdale Center, and plans formed to open the branch in the now-defunct Herberger s space. The library would have been below a new apartment tower developed jointly by Simon Property Group, the mall s owner, and Life Time Fitness and next door to a Kowalski s grocery store. Life Time opened a
New Burnsville Center owner with checkered past optimistic about mall s future Mike Kohan sees new chances for the mall, which was regaining traffic before COVID. January 9, 2021 8:19am Text size Copy shortlink:
Mike Kohan has made a career of buying distressed shopping centers, including the recent purchase of the bulk of the struggling Burnsville Center.
Kohan, who leads New York-based Kohan Retail Investment Group, plans to again increase the number of tenants, partly by catering to smaller, local businesses.
Similar to plans at other Twin Cities malls, he also wants to recruit more entertainment options to Burnsville and possibly apartments to some of the land surrounding the mall.
15 Biggest Malls in the US
15 biggest malls in the US. Click to skip ahead and jump to the
5 biggest malls in the US. When one thinks about America, shopping is definitely in the top ten things that spring to mind. Shopping is a big part of the American experience. Malls are some of the most common places for teenagers and adults alike to hang out or meet up with friends. One can even call the shopping mall America’s public square. Today there is a shopping mall in every corner you turn but less than a century ago, the concept of a shopping mall was as alien as the concept of spaceships is today.
What s open and what s closed in Minnesota on New Year s Day?
Goodbye 2020!
Banks
You won t find many banks open in Minnesota on Friday, with New Year s Day being a federal holiday, including those inside grocery stores. This includes Bremer Bank, TCF Bank, U.S. Bank and Wells Fargo.
Post Offices
It s a federal holiday, so U.S. Post Offices will be closed and there won t be any deliveries.
UPS and FedEx also won t be making any deliveries today, though their critical (ie. pricey) services are still available.
Malls and stores
New Year s Day is a big shopping day, so most malls, supermarkets and chain stores in Minnesota will be open, though their hours may vary for the holiday.