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Showing posts with label Retail Terminology. Show all posts
Showing posts with label Retail Terminology. Show all posts

Hoping not to be redundant, we are including the following segment for readers of the MALL HALL OF FAME. It has been created especially for those who are not familiar with the jargon used within the retail real estate industry. 

The following terms, set as the standard by the Inter
national Council of Shopping Centers, will be found in copy and captions throughout our Mid-Mod Mall Museum.  

MALL- Often, ANY type of shopping center will be referred to as a (quote-unquote) "mall." However, by retail industry definition, a mall is always a particular format of shopping center. It is, by nature, suburban. It always has a large parking area and its stores are configured around a lengthwise corridor (or corridors), with said stores facing each other.


STRIP MALL- A widely used "shopping mall malaprop," this term has been conjured up by the general public and news media to describe what should be called a "strip shopping center" or "strip center." The term "strip mall" is not used within the retail industry. You will see it mentioned just once on this site (like, right here).

OPEN-AIR MALL- A non-enclosed -non-climate-controlled- shopping complex. It has awnings on the front of stores along roofless concourses. In the early days of shopping malls in America, open-air centers were the standard. This began to change in late 1956, following the opening of Minnesota's SOUTHDALE CENTER. It was the nation's first fully enclosed, regional-class mall.

ANCHOR STORE- Usually, a large -often upscale- department store, with 100,000 to 500,000 leasable square feet. It serves as a shopping center focal point, drawing in customers.


JUNIOR ANCHOR- In the typical mid-century mall, the larger department stores would often be joined by a supermarket, 5 & 10 or "specialty retail" apparel store. In the present, a junior anchor might be a multiplex cinema or big box-type retailer.

BIG BOX RETAILER- An outlet of a large, national chain, specializing in a certain type of product line, such as apparel, electronics, housewares, building materials, pet supplies or office provisions. As the term suggests, such a store is built like a big box and is situated at the back of a large parking area.

STRIP CENTER- A group of stores, usually arranged lengthwise in a row, with sidewalks and parking in front. Serves a small area or neighborhood. Often a supermarket will be its focal point.

COMMUNITY SHOPPING CENTER- When in the form of an enclosed mall, will have up to 399,000 leasable square feet and (perhaps) a single anchor store, along with other junior anchors.

REGIONAL SHOPPING CENTER- A complex designed and built to service a larger area than a standard strip center or community-type mall. Encompasses 400,000 to 800,000 leasable square feet and has at least two anchor stores, along with one or two junior anchors.

SUPERREGIONAL SHOPPING CENTER- A complex with 800,000 -or more- leasable square feet. May have as many as six large department stores and several junior anchors. Serves as the dominant shopping center of an entire metropolitan area.

LIFESTYLE CENTER- A term coming into common usage in the 1980s and '90s. Generically applied, it describes an open-air shopping center, often smaller than a superregional mall, ALWAYS upscale and centered around entertainment or leisure venues.....such as a multiplex cinema. Several high-end bistros, and smaller boutique-type stores, are included. There may also be a department store -or two- in the retail mix.

POWER CENTER- A term also coming into prominence in the 1980s and '90s. This type of shopping center, an evolution of the 1950s strip center, is open-air and usually encompasses between 250,000 and 750,000 leasable square feet. It is geared toward middle-class clientele and has several big box-type retailers arranged in a row, either behind -or along both sides of- a large parking area.