Shopping Center Definitions
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| Type of Center | Concept | Square Feet (Including Anchors) |
Acerage | Typical Anchor(s) | Anchor Ratio |
Primary Trade Area |
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| Number | Type | ||||||
| Strip | Convenience | under 30,000 | .5-3 | NA | NA | NA | 3 miles |
| Neighborhood | Convenience | 30,000 to 150,000 | 3-15 | 1 or more | Supermarket | 30-50% | 3 miles |
| Community Center | General merchandise; convenience focused. Anchored by grocery stores and occupied by neighborhood convenience specialty or service tenants. Typically laid out as a strip center with parking in front | 100,000 to 350,000 | 10-40 | 2 or more | Discount Department Store, supermarket, drug, home improvement, large specialty/discount apparel | 40-60% | 3-6 miles |
| Regional | General merchandise; fashion (mall, typically enclosed). Anchored by department stores and occupied primarily with specialty tenants typically within an enclosed mall | 400,000 to 800,000 | 40-100 | 2 or more | Full-line department store, jr. department store, mass merchant, discount department store, fashion apparel | 50-70% | 5-15 miles |
| Super Regional | Similar as Regional, but more variety | 800,000 + | 60-120 | 3 or more | Full-line department store, jr. department store, mass merchant, fashion apparel | 50-70% | 5-25 miles |
| Power Center | Category-dominated anchor; few small tenants. Anchored by one-level department store or large hard-goods retailers combined with other also relatively large-formats (15,000 sf and larger) retailers. The Power Center typically has a dep linear building with a site line on the street side with pad sites, typically for restaurants. | 250,000 to 600,000 | 25-80 | 3 or more | Category killer; home improvement, discount department store, warehouse, club, off-price | 75-90% | 5-10 miles |
| Fashion/Specialty | Higher End; fashion oriented | 80,000 to 250,000 | 5-25 | NA | Fashion | NA | 5-15 miles |
| Lifestyle/Specialty | Upscale national chain specialty stores; dining and entertainment in outdoor setting. Unanchored, high-end specialty strip center with the same tenants as a mall, minus the department stores, with a few sit-down restaurants. Generally laid out as a strip center with variations that may be U or L shaped. | 150,000 to 500,000, more or less | 10-40 | 0-2 | Not usually anchored in the traditional sense, but may include book store; other large-format specialty retailers, multiplex cinema, small department store | 0-50% | 8-12 miles |
| Urban Entertainment Center | Often anchored by a cinema, features bookstores, restaurants, bars, and other leisure-time ventures, often also with a collection of specialty retailers. Tend to have an open-air pedestrian component with strong attempt to create a "sense of place." A leisure-time destination that is often the basis for downtown revitalization. These centers combined shopping and recreation with entertainment to form an overall experience. Retail needs the entertainment to draw people in and entertainment needs retail to support the overall operation. | 80,000 to 250,000 | 5-25 | 1 | usually cinema | ||
| New Town Center | a mixed use development that is the social-hub of the community. It follows traditional urban design principles with grid streets providing a pedestrian-friendly environment that also contains public spaces that are available for community events, public and civic functions. A significant destination on the scale of a regional mall, it can have both horizontal and vertically uses. | 800,000 + including 400,000 retail, 100,000 leisure, plus office and residential | 100 + | 3 or more | Regional mall plus strong leisure-time component including cinema and sit-down restaurants. Residential and office | ||
| Outlet | Manufacturer's Outlet Stores | 50,000 to 400,000 | 10-50 | NA | Manufacturer's outlet stores, outside of major metropolitan areas | NA | 25-75 miles |
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| Bart
Binning, MBA, Ed.D., GRI, TRC, RECS Prudential Alliance Realty 4101 NW 122nd Oklahoma City, OK 73120 |
Office (405)
755-9052 FAX (405) 755-8819 bart@bartbinning.com Add Bart to your address book |
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| 2002-2007
· Bart Binning, All Rights Reserved Last Updated: 7/30/2007 www.CommercialDev.com |
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