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Retail
Regional malls to high-street storefronts: percentage rent, co-tenancy clauses, and anchor repositioning.
Property Types
- Regional / super-regional mall
- Power centre (big-box anchored)
- Neighbourhood strip mall
- High street / urban storefront
- Pad site (outparcel)
- Lifestyle centre / open-air mixed-use
Physical Attributes
- Anchor, inline, and pad site tenant configuration
- Storefront frontage, signage visibility, and pylon rights
- Co-tenancy clause triggers tied to anchor occupancy thresholds
- Parking ratio (spaces per 1,000 SF of GLA) and surface vs structured
- Loading dock access, rear service corridors, and trash enclosures
Value-Add
- Anchor replacement after dark-store vacancy or lease expiry
- Food and beverage conversion of underperforming inline space
- Experiential tenant programming (entertainment, fitness, medical)
- Outparcel densification via pad site development or ground lease
- Common area and facade refresh to attract higher-credit tenants
Appraisal Approach
- Income approach with percentage rent and overage rent analysis
- Sales comparison for single-tenant pad sites and small strip retail
- Anchor tenant credit risk and co-tenancy exposure in DCF scenarios
- Below-the-line CAM reconciliation surplus/deficit treatment
Management
- Lease administration: CAM reconciliation, percentage rent audits
- Tenant relations and merchandising mix curation
- Parking lot maintenance, snow removal, and traffic flow management
- Marketing fund administration and tenant event programming
Strategic Concepts
- Omnichannel retail impact: click-and-collect, showrooming, BOPIS
- Dark store risk and co-tenancy cascade failure scenarios
- ROFR/ROFO management on anchor spaces and outparcels
- Grocery-anchored defensive positioning in downturns
- Experiential tenant mix as a hedge against e-commerce disruption