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 ?
This insistence in using the odious word arises from the fact that a particularly benighted landsman must imagine the act of anchoring as a process of throwing something overboard, whereas the anchor ready for its work is already overboard, and is not thrown over, but simply allowed to fall.
To speak with severe technicality, a ship or a fleet is "brought up" - the complementary words unpronounced and unwritten being, of course, "to an anchor.
The Recherche, after touching at several points in the Pacific, cast anchor before Vanikoro, 7th July, 1827, in that same harbour of Vanou where the Nautilus was at this time.
lay among the reefs until the 14th, and not until the 20th did he cast anchor within the barrier in the harbour of Vanou.
The Bayonnaise cast her anchor before Vanikoro some months after the departure of the Astrolabe, but found no new document; but stated that the savages had respected the monument to La Perouse.
And so, for Jerry, vanished Tulagi, its Commissioner's bungalow on top of the hill, its vessels riding to anchor in the harbour, and Michael, his full blood-brother.
They left him regarding the weed-hung flukes of the little anchor with big, pathetic blue eyes, and thanking them profusely.
The anchor came up with a sob, and the riding-sail bellied as Troop steadied her at the wheel.
On the 21st of February the Tonquin cast anchor in the beautiful bay before the village of Waititi, (pronounced Whyteetee.
While at anchor at this place, much ceremonious visiting and long conferences took place between the potentate of the islands and the partners of the company.
For a moment it seemed that she should miss her goal by but a few feet, but at the last moment the canoe swung close beneath the steamer's bow and Jane barely managed to grasp the anchor chain.
To release her hold upon the chain and chance clambering to the ladder as her canoe was swept beneath it seemed beyond the pale of possibility, yet to remain clinging to the anchor chain appeared equally as futile.