malls that have multiple tenants. They don’t usually include any high-rises.
STRIP CENTERS
These are usually less than 30,000 square feet and may or may not have co-tenants next to a large retail chain. These chains are Walmart, Target, Home Depot, and others. Many will contain a mix of small retail stores around them like dry cleaning, barbershops, and delis.
COMMUNITY RETAIL CENTER
These can range anywhere inside of 150,000 to 350,000 square feet. They have multiple anchors, such as grocery stores and restaurants. An example is a shopping plaza with a Walmart and a large grocery store chain separated by a few smaller retail tenants. Usually you will see one or more restaurants in these centers.
POWER CENTER
These usually include a few smaller retail stores but stand out due to the presence of a couple of major box retailers, like Lowes, Best Buy, or Walmart. These major retailers are usually in supersized stores and can take up anywhere from 20,000 to 200,000 square feet. The entire area is smaller than a community retail center and is more focused on the big chain. These usually include an out parcel, which is a separate building in the area reserved for a drive- thru or a bank.
REGIONAL MALLS
These range anywhere from 400,000 to 2,000,000 square feet. They have a few anchor tenants that are big chains or department stores, and a high number of smaller tenants. Some of these can be “lifestyle centers,” which are basically open air malls with more
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