Enhanced Attributes
Structure
Shopping centers are composed of large, medium and small tenants. Industry terms for these are anchors, junior anchors, and smaller tenants who are further subdivided by their position in the center. Smaller tenants in the main body of the are called in-line tenants and those located on the edges of the shopping center parcel are termed out-parcels. Finally, we also distinguish two further types of anchors/junior anchors, supermarkets and theatres.
Anchors (ANC): These are the major attractors for the shopping center and are typically 50K sq ft and larger. Department stores, discount stores, home centers, warehouse clubs and similar large format tenants are typical anchors.
Junior Anchors (JRA): Ranging from 20K – 50K sq ft, junior anchors are dominant within their category or very large compared to other category tenants. Sometimes termed “category killers” these types of tenants dominate their category. Pet Supply, Beauty Supply, and similar specialists dominate with size and depth of selection. Other types of junior anchors are large format versions in a small format category such as Walgreens or CVS in the pharmacy category or H&M in apparel.
Supermarket (SUPM): Neighborhood shopping centers have a supermarket as the anchor tenant. Such centers supply the full range of day-to-day needs of its local community.
Theatre (THEA): Like supermarkets, CAP considers theatres as Special forms of anchors important to specific types of centers, in this case Festival/Entertainment. Typically, major theatres or similar large format entertainment venues are the anchors.
In-Line Tenants (ILS): Small format tenants located in the main body of the center are termed in-line tenants.
Out parcels (OUTP): Out-parcels are typically small tenants locate individually or in small groups on the periphery of the shopping center. In terms of counting the types of tenants there is a hierarchy. In other words, junior anchors or supermarkets would each be counted in its category even if physically located as an out-parcel.
Finally, any tenant not counted specifically in another category is an in-line tenant.
EAU
EAU : External Access Units vs Enclosed Units
The External Access Units (EAU) variable shows the number of units that are directly accessible to the street or parking lot. This allows for even deeper insights for US and Canadian shopping centers, by distinguishing the number of units that are enclosed from the number of units that have direct external access. This distinction was especially relevant during the current COVID-19 pandemic resulting in the widely reported weak foot traffic, especially from enclosed shopping centers.
EAU enables our subscribers to compare shopping centers with criteria that are more relevant to the current market conditions and examine the attractiveness of “open-air” centers against enclosed ones, as well as serve as a guide for store operators to evaluate, benchmark and target specific shopping centers.
EAU are two attributes EAU Count & EAU Source