Retail space
Property used to sell goods or services to the public, from single storefronts to shopping centers. Visibility, traffic and co-tenants drive value, and leases are often net with CAM charges.
Also called: retail, storefront, shopping center, strip center
Related terms
A large, well-known tenant, such as a grocery store, that draws traffic to a shopping center and helps smaller tenants. Anchors often get lower rents, and their departure can hurt the whole center.
A lease where the tenant pays base rent plus its share of property taxes, insurance and maintenance. The landlord's income is more predictable, and the tenant takes on rising operating costs.
Fees tenants pay for upkeep of shared areas like parking lots, lobbies, landscaping and security, usually split by each tenant's share of the space. Estimates are billed monthly and reconciled once a year.
A property or project that combines more than one use, often retail on the ground floor with apartments or offices above. Zoning must allow the combination, and financing can be more complex.
Property used for business or to produce income, such as offices, retail, industrial buildings and larger apartment complexes. It is usually valued on its income and financed with commercial loans.