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Industry Pulse: December 2012

BLOOMINGTON, Minn. – It looks as if the massive Mall of America, sometimes referred to as the “megamall,” will not be getting the “mega” healthcare tenant that it was counting on to be the anchor of a new building in its long-planned Phase II expansion. Officials with Rochester, Minn.-based Mayo Clinic said in recent weeks that the healthcare provider no longer plans to occupy space in the second phase of the mall, despite the fact that it signed a letter of intent to do so back in 2009. As recently as March 2012, Mayo’s plans called for occupying three floors of an 11- to 13-story building planned for the expansion, which could also include a hotel, more shops and restaurants, the office building containing Mayo, and additional parking.

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