What typically characterizes a large retail property?

A large retail property is typically characterized by high foot traffic and multiple store locations. This attribute is crucial because large retail properties, such as shopping malls or retail centers, are designed to attract a significant number of customers. High foot traffic is often driven by the presence of well-known anchor stores, a variety of retail options, and accessibility, which can include ample parking spaces and proximity to main roads or public transport.

The presence of multiple store locations within the property encourages shoppers to visit, as they can find a wide range of products and services in one place, enhancing the overall shopping experience. This high volume of visitors is beneficial not just for the tenants in terms of sales, but also for the property management, which seeks to maintain occupancy levels and ensure profitability.

In contrast, lower lease rates, restrictions on operating hours, and a mix of residential and commercial tenants are not typical characteristics of large retail properties. Large retail spaces usually command higher lease rates due to their value in attracting significant foot traffic and national brands. Additionally, restrictions on operating hours are more pertinent to specific types of businesses rather than being a defining characteristic of large retail properties as a whole. Finally, while mixed-use developments do exist, large retail properties primarily focus on retail activities rather than a