Sentences with phrase «as the anchor store»

Dozens of malls have closed in the last 10 years, and many more are at risk of shutting down as retailers like Macy's, JCPenney, and Sears — also known as anchor stores — shutter hundreds of stores to staunch the bleeding from falling sales.

For decades, large department stores served as the anchor store for malls and shopping centers.

In October 2014, the two - story Broadway Plaza Mall opened in Kingsbridge featuring Sports Authority, TJ Maxx, Red Lobster and Party City as anchor stores.

The challenge is compounded by declining malls that fail to attract foot traffic as anchor stores drop like flies.

Not exact matches

Steinhafel bought everything, essentially committing the company to opening stores as quickly as possible to avoid paying rent on stores that weren't operational and leaving landlords without anchor tenants.

Once dominant United States department store operators such as Macy's and J.C. Penney have announced plans to shut hundreds of stores in recent years, putting pressure on landlords to find new «anchor tenants» or come up with new ways to grow returns.

«Department stores do not create the same draw as anchors that they did 10 to 15 years ago,» Paltz wrote in a recent note.

Even today the typical anchor store pays around $ 4 per square foot in annual rent; the average non-anchor tenant paid $ 42.22 per square foot a year as of the third quarter of 2016, according to real estate analytics firm Reis.

Traditional mall anchors, such as Macy's, J.C. Penney and Sears, have announced numerous store closings in recent months.

Having said that, the mall is in a serious predicament, as Sears continues to be that dead anchor store walking, but now there's the possibility of another anchor store going under, as my local Bergners department store is part of Bon Ton stores which filed for bankruptcy and is facing possible liquidation.

Extell Development's Central Park Tower at 217 West 57th Street — which has yet to secure a construction loan — has locked in a 363,000 - square - foot Nordstrom department store as its anchor tenant.

Pete's Fresh Market stores serve as anchors and retail hubs that accelerate development, economic activity and fiscal opportunities.

The solution's hardware acts as a «trust anchor»: A secure place for storing cryptographic keys and an execution environment for all security - relevant operations.

The much sought after Samsung Galaxy S III will drop anchor in the UK earlier than anticipated as the Korea based OEM has decided to start dispatching it on May 29 to those who pre-order from the Samsung store in Westfield Stratford City in London.

SORIANA: (Formerly «Gigante», and often still referred to as such) The anchor store of the Plaza Caracol Shopping Center, on Ave. Francisco Medina Ascencio, across from Los Tules resort, in the «hotel zone».

In the last two years, more than 400 of the largest 2,000 malls in the U.S. have shut their doors as «anchor» tenants (department stores such as Dillards, JC Penney) have pulled out, causing a cascade of smaller stores closing up.

In the Mills» other proposed renovations to the portfolio, The Galleria at White Plains will get a new Sears anchor to accompany the existing Macy's location, as part of a repositioning that complements nearby mall The Westchester; two department stores will be added to Borward Mall, meanwhile.

Its stores serve as anchors at many class - A and class - B regional malls throughout the country, says Joe Brady, managing director of corporate retail solutions with Jones Lang LaSalle, a Chicago - based real estate services firm.

At community shopping centers — mostly grocery - anchored strips that have been regarded as nearly recession proof — same - store sales fell 2.2 % in February and dropped again in March by 0.8 %, according to Merrill Lynch.

Both regular and discount department stores, which often serve as anchors for malls and shopping centers, have plans to expand, in spite of what the report describes as «only modest sales growth volume in these categories.»

As longtime mall anchors J.C. Penney, Sears, and Macy's falter, shopping mall owners are looking to grocery stores, restaurants, fitness centers, and even health care clinics as chief drivers of foot traffiAs longtime mall anchors J.C. Penney, Sears, and Macy's falter, shopping mall owners are looking to grocery stores, restaurants, fitness centers, and even health care clinics as chief drivers of foot traffias chief drivers of foot traffic.

- ft. store joins Kaufmann's, Sears and JC Penney as mall anchors, with a fifth planned.

Its decline took decades, as department store anchors slowly departed for a more upscale mall nearby.

Smaller retailers followed, and as of Feb. 2016, 33 percent of the mall space — not including anchor stores — sat vacant, according to Bloomberg data.

When he was working to boost the economic vitality of Sheboygan Falls, Wis., Wagner identified the community's local furniture stores as an important community anchor.

Since that market is so competitive, Principal Capital also lends on other types of retail developments, but as Dubas notes, «Everything escalates a notch when you don't have grocery - store anchors.»

The anchor stores were not used as collateral.

Two of Grossmont's mid-to-high end anchors, Bullock's and Buffums, pulled out of the center, leaving Macy's and Wards as the department store anchors.

Instead, lenders such as The MONY Group are focusing on the comparatively low - risk, grocery - anchored centers that also house service retailers such as beauty salons, dry cleaners and video stores.

* Woodbridge Town Square - 370,000 sq. ft. worth of power center space (with 100,000 sq. ft. available at press time) in Woodbridge featuring Lowe's Home Center, Edwards Food Store, and Linens»n Things as anchors.

Newark's park revitalization, said Harnik, has brought other development to the area, including the adaptive reuse of the former Hahne's Department Store, which will feature Whole Foods as its anchor tenant.

«I don't think we necessarily always look at one single store as an anchor, when you can also have a cluster of stores to serve as draw,» says Lebovitz.

Many of the chain's stores anchor suburban neighborhood centers, mostly owned by private developers, which face uncertainty as the chain changes ownership.

For the mall landlords such as Santa Monica, California - based Macerich, the partnerships allow them to redevelop the anchor stores and add new tenants who would pay higher rent than Sears and also may draw more shoppers to the properties.

The 31,846 sq. ft., shadow - anchored center includes such tenants as Vons, Longs Drug Store, Burger King, El Pollo Loco and Chevron.

The first expansion occurred in 1972 when the mall added JCPenney as a third anchor, as well as 43 more specialty stores.

Originally opened in 1963 with just 20 stores, the mall was expanded over the years to include 110 specialty stores as well as anchors JCPenney, Dillard's, McRae's and Sears.

As the lifestyle center construction boom got underway, many developers felt that a wide selection of popular in - line stores would serve as a substitute for traditional anchors like department storeAs the lifestyle center construction boom got underway, many developers felt that a wide selection of popular in - line stores would serve as a substitute for traditional anchors like department storeas a substitute for traditional anchors like department stores.

«We look at the clusters of restaurants at our centers as becoming another anchor,» says Guy Mercurio, a vice president who oversees restaurant leasing for Santa Monica, Calif. - based regional mall REIT Macerich Co. «The number of people that they bring in by combining several concepts can equal the number of people that go into a department store.»

Major anchor tenants include supermarkets, discount stores and drugstores such as Albertson's, Wal - Mart, Kmart, The Home Depot, CVS and Eckerd Drugs.

Big department stores, such as J.C. Penney, Sears and Macy's, occupy some two - thirds of anchor space.