An anchor tenant plays a pivotal role in the context of real estate development, specifically within shopping centers and office buildings. It usually refers to a prominent, well-known business that leases a significant portion of the property, thereby attracting other tenants and customers.
A common area is a portion of a property that is used and enjoyed by all owners or tenants within that property. Typical examples include clubhouses and pools in condominium developments, hallways and stairs in apartment buildings, elevators in office buildings, and the central mall area in shopping centers.
A mall is a public area that connects individual stores within a shopping center, generally enclosed for a convenient and climate-controlled shopping experience.
A power center is a type of shopping center characterized by a small number of tenants, most of which are anchor tenants or 'category killers'—dominant retailers in their respective markets.
A prime tenant in a shopping center or office building is the lessee who occupies the most space. Prime tenants are typically credit-worthy and attract significant traffic to the venue.
A shopping center is a collection of retail stores organized around a common parking area and often featuring key large stores, such as department stores, discount stores, or food stores. This term can also include enclosed malls or walkways.
