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How much money do you need to start a mall?
It’s not cheap to build a mall. The national average is $24.9 million for a medium-sized shopping mall, not including land purchase and clearing. To build a mall, demolition may be necessary, and this will add significantly to the total cost. A typical mall has four anchor stores, two floors, and 56,000 square feet.
How many floors is Mall of America?
4
| Mall of America | |
|---|---|
| Floor count | 4 on East and South Wings 3 on North and West Wings |
| Floor area | 2,869,000 sq ft (266,500 m2) + 5,400,000 sq ft (500,000 m2) |
| Design and construction | |
| Architecture firm | HGA, KKE Architects, Inc., Jerde Partnership |
Why is the Mall of America so popular?
Since opening its doors in 1992, Mall of America® has revolutionized the shopping experience of tens of millions of visitors a year. A leader in retail, entertainment and attractions, Mall of America is one of the top tourist destinations in the country and is known around the world.
What makes a successful mall?
There are six factors that affect a mall’s success: comfort, diversity, luxury, mall essence, entertainment and convenience.
How do you design a mall?
The following are some points that need to be emphasized while designing a shopping mall.
- Know your Market.
- Site design.
- Cater to the Parking requirement more?
- A grand entrance.
- Create a space that invites all categories of people.
- Depending on retail stores only to draw traffic.
- Connect the spaces.
How to build a successful mall?
You must choose the land upon which you’ll construct your mall. Naturally, you want a location that is easy to access, and not too far from a nearby center. Also, it should provide space for parking and not create local traffic congestion. The location should be convenient for access by your targeted market.
What are the different types of shopping malls?
Shopping malls may contain entertainment and dining venues. They can range in size from neighborhood centers to super-regional centers. An open-air shopping center usually arranged in a single row of stores fronted by a sidewalk. Typically, developers build strip malls as a unit accompanied by suitable parking facilities.
What is the average size of a mall?
A typical mall has four anchor stores, two floors, and 56,000 square feet. Naturally, mall sizes and costs vary greatly according to size, site conditions, construction techniques, tenants, amenities, and location. Mall construction requires the participation of an owner/developer, architects, general contractor, and subcontractors.
How much does it cost to build a small strip mall?
Clearly, your rental income projections must account for the types of tenants you attract. These projections may tempt you to cut corners during construction, but nevertheless, you must build to the minimum safety codes. Typically, a minimum-cost small strip mall might cost about $250/square foot to build.