Anchor tenant
Larger tenant in a shopping mall, often a department store or retail chain / From Wikipedia, the free encyclopedia
Dear Wikiwand AI, let's keep it short by simply answering these key questions:
Can you list the top facts and stats about Anchor tenant?
Summarize this article for a 10 year old
In US retail, an "anchor tenant", sometimes called an "anchor store", "draw tenant", or "key tenant", is a considerably larger tenant in a shopping mall, often a department store or retail chain.[1] They are typically located at the ends of malls, sometimes in the middle. With their broad appeal, they are intended to attract a significant cross-section of the shopping public to the center. They are often offered steep discounts on rent in exchange for signing long-term leases in order to provide steady cash flows for the mall owners. Some examples of anchor stores in the United States are: Macy's, Sears, JCPenney, Nordstrom, Neiman Marcus, Saks Fifth Avenue, Dillard's, Kohl's, and Target. And in Canada; Hudson's Bay, Sears (formerly), Target (formerly), Zellers (formerly, now in select Bay locations), Nordstrom/Nordstrom Rack (formerly), TJX Companies (HomeSense, Winners, Marshalls), Saks Fifth Avenue, Sporting Life.