Regional malls can come in many shapes and sizes and are known to typically have two or more large department stores as anchor tenants surrounded by many national branded tenants. Many regional malls are surrounded by pad sites that will be occupied by restaurants, fast food, banks and other well-known tenants.
When you think of power centers, think of properties like Target, PetsMart or Sports Authority. These centers usually have a larger quantity of national brand tenants than smaller tenants. In fact, they sometimes consist of only the large national brand tenants. These super-sized strip malls are also usually surrounded by pad sites that are occupied by restaurants, fast food, banks and other well-known tenants.
Big Box Retailers
This type of retail property is occupied by one very large store. Some common big box retailers are Walmart and Cosco. These large buildings are always occupied by one retailer.
Free Standing Retail Sites
These sites are similar to big box retailers, only smaller and commonly known as large-box retailers. Tenants is free standing building could be anything from restaurants, furniture stores, bowling alleys or electronic stores.
Typically anchored by a grocery store, strip malls bring in a lot of foot traffic. Other tenants in the strip may include mom & pop stores, boutiques and smaller stores as well as national brand stores. Some strip centers do not have an anchor tenant. These strips are most likely occupied with professional services such as insurance agencies, clinics and real estate agencies.
Community Commercial Retail
Also known as “urban street retail” or “mixed use” properties. These types of retail are commonly found on the first floor or ground-floor of a multi-family property or office building. These are usually located in the urban core of big cities.
Office and Industrial Conversions
This is exactly what it sounds like, it is when the property is converted into a retail property. This usually focuses on urban renewal by teaming up with developers and city officials.