Mall of America Former Sears
Mall of Americas Anchor Opportunity | Leasehold Interest Only | Massive Foot Traffic (18M/Annually)
Marketing description
CBRE is pleased to present, as the exclusive advisor, the opportunity to acquire the leasehold interest for the former Sears at the Mall of America. The leasehold interest extends through 2032, with six additional 10-year renewal options available—offering a future owner or occupier long-term stability and control over the premises. The Property is located on 2.24 acres of land with excellent frontage and visibility within one of the most trafficked retail destinations in the world, the Mall of America. The Mall experienced nearly 19M visits in 2024 and is ranked 5th nationwide according to placer.ai data. The vacant building presents a tremendous opportunity for future investors to acquire and re-tenant the existing building or for an owner/user to reimagine their space for their desired use.
Investment highlights
Prime Location within the Mall of America
The vacant Sears is in the highly trafficked and visible Mall of America. The Super-regional Mall is 5.6 million SF with over 500 stores and 50+ restaurants. Mall of America had 18.9 million visitors in 2024 with an average dwell time of ~2 hours. The mall has over 500 stores and 50+ restaurants with every major retailer.
Retailers include Nordstrom, LL Bean, Macy’s, Barnes & Noble, Five Below, Old Navy, JD Sports, Walgreens, Lids, Lululemon, NBA Store, Tilly’s, Torrid, Journey’s, Chick-fil-A, DSW, Chipotle, Panda Express.
Retail Center of Gravity
Mall of America’s desirable location and proximity to the major interstate and airport make it a vibrant destination for travelers across the globe and local consumers. The Mall anchors a corridor that includes over 15 million square feet of hospitality, retail, office, and apartments within a 1-mile radius. Within a 3-mile radius, the corridor spans over 3M sf of retail, being able to accommodate many different consumers in different submarkets. The corridor features nearly every major national retailer and thrives off of its accessibility through the I-494, the major east-west thoroughfare. Home to a wide array of major national retailers, the corridor offers prime visibility and access through I-494, ensuring strong customer flow and long-term viability.
Flexible Zoning Use and Ordinances
Qualified investors will be able to benefit from the Property’s current zoning classified as “Mixed Use (CX-2) District”. The Property’s current zoning classification, in-place REA, and lease allow for a wide variety of uses that can benefit the investor through its flexibility and range of options when redesigning or repurposing the space.
Expansive and Desirable Trade Area Demographics
Mall of America draws traffic from a wide and expansive trade area with a population of 1.45 million. The trade area extends nearly 17 miles north, 16.8 miles east, 20 miles south, and 19.2 miles west, encompassing all East Bloomington, while pulling customers from Minneapolis, Saint Paul, Cottage Grove, Eagan, Shakopee, Burnsville, Farmington, and Columbia Heights.
Sales Terms
The former Sears at the Mall of America is being offered without an asking price on an “as-is” basis, with ownership making no representation or warranties concerning the accuracy or completeness of the offering memorandum or all documents delivered to an acquisition prospect for the purpose of performing due diligence.
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