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There is definitely a shift with anchor tenants opening fewer new locations.
Besides enhancing NORCAT's reputation internationally, the addition of anchor tenants should provide new revenue streams through rentals from 12 new office suites being built as part of an in-house expansion connected to Cambrian College's $25 million Superbuild project.
1] reflects the marginal effect of the anchor tenant externality on non-anchor tenants.
There is no question that having the commitment of an anchor tenant will give bidders for the Hudson Yards a leg up, said Josh Kuriloff, vice chairman of Cushman & Wakefield, which conducted an economic analysis of the Hudson Yards area for Manhattan in 2004.
Anchor tenants include Macy's, Sears, Boscov's and Christmas Tree Shops (a subsidiary of Bed, Bath and Beyond).
It is important to note that both of the above-noted arenas also have NBA teams as anchor tenants and generate significant revenue from NBA games and other arena events.
Best Buy is always a strong consideration for Weingarten when identifying a list of prospective anchor tenants, especially when seeking a consumer electronics store as they are the leader in their category, in my opinion," she continued.
During the renovation, all current anchor tenants will remain open, and Sport Chalet and the properties on the north end of the development will not be affected.
Six Anchor Tenants Signed for 500,000 Square Feet; Construction Firms in Place
Though it might be business as usual for the anchor tenants, it's devastating to those stores who are shutting down.
Non-owned anchor tenants are: Foley's (expected to be converted to Macy's this fall), Dillard's, Sears, JCPenney, DSW and Dillard's Men.
The Mall boasts 3 anchor tenants including Hecht's (to be Macy's fall of 2006), Boscov's and Bass Pro Shops.