Mall anchor tenants may be cast adrift
Whether driven by the weak economy or online shopping, malls are changing
Retail mall owners may be scurrying around in the hunt for new anchor tenants as legacy businesses fall behind changing retail trends. The 10- to 25-year leases that are usually given to anchor tenants when property developers establish a new mall form part of a model that is quickly becoming obsolete, and this may mean changing the face of the traditional anchor tenant. Elaine Wilson, the divisional director for research at Broll Property Group, said although grocery and department stores were expected to remain anchor tenants, "certain tenants such as H&M will become more of a necessity for your larger centres". Wilson said anchor tenants would always draw feet to a centre due to their offering and size. "Although they are not necessarily the differentiation factor, they are generally a drawcard, while smaller tenants will always be important due to the different offerings they bring to a centre." She maintained that a centre could not be developed without an anchor tenant. Wilson...
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