anchor tenant

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Anchor Tenant

A large store that rents space in a mall or other shopping center. An anchor tenant has the ability to attract more people to the mall than the other tenants, and because it rents more space, it will generate more of the mall's revenue. Anchor tenants are often large department stores. Agreements with anchor tenants must be in place before most banks will finance the construction of a mall or shopping center.

anchor tenant

A major department store or chain store located in a shopping center so as to attract customers who will then shop at the smaller, satellite stores; sometimes referred to as a traffic generator or magnet store.

• Because of the critical importance of that traffic to the smaller tenants, wise shopping center owners in a position to negotiate terms will prohibit the anchor from going dark, meaning vacating its space. Otherwise, the anchor could move to a more desirable location, continue paying the rent for the old property, but effectively cause most of the other tenants to go out of business and default on their leases because of the lack of traffic. Unfortunately, important anchor tenants usually have the clout to refuse to sign a lease with such terms.

• Anchor tenants often reserve the right to dictate the selection of the satellite tenants and to prohibit ones which might be incompatible with their core philosophies (such as liquor stores) or who might compete with their merchandise sales.

• Arelated term is shadow anchor, used when a small shopping center wants to communicate that an important traffic generator is next door or directly across the street. An ad might read, “Subject property shadow anchored by Wal-Mart to the east and Target to the west.”

References in classic literature ?
There, in three or four fathoms of water, between the reefs of Pacou and Vanou, lay anchors, cannons, pigs of lead and iron, embedded in the limy concretions.
Now, an anchor is never cast, and to take a liberty with technical language is a crime against the clearness, precision, and beauty of perfected speech.
The fleet sailed directly for Hooja's island, coming to anchor at its north-eastern extremity before the flat-topped hill that had been Hooja's stronghold.
He slipped his anchors, leaving them buoyed to be picked up in better weather.
The first of the flood tide was setting in, when we ran below where we thought the line was stretched and dropped over a fishing-boat anchor.
Next time I go I shall take my little anchor with me.
On either side the seamen whom Sir Nigel had chosen for the purpose had cast their anchors over the side of the galleys, so that the three vessels, locked in an iron grip, lurched heavily forward upon the swell.
As I hinted before, this whalebone marquee was never pitched except in port; and on board the Pequod, for thirty years, the order to strike the tent was well known to be the next thing to heaving up the anchor.
I expect the ship will have its own anchor," said the Doctor.
We brought up just where the anchor was in the chart, about a third of a mile from each shore, the mainland on one side and Skeleton Island on the other.
They were on board when the Henrietta made ready to weigh anchor.
However, those experienced in navigation saw plainly that if any accident had occurred, it was not to the vessel herself, for she bore down with all the evidence of being skilfully handled, the anchor a-cockbill, the jib-boom guys already eased off, and standing by the side of the pilot, who was steering the Pharaon towards the narrow entrance of the inner port, was a young man, who, with activity and vigilant eye, watched every motion of the ship, and repeated each direction of the pilot.