In retail, an "anchor tenant", sometimes called an "anchor store", "draw tenant", or "key tenant", is a larger tenant in a shopping mall a department store or retail chain. With their broad appeal, they are intended to attract a significant cross-section of the shopping public to the center, they are offered steep discounts on rent in exchange for signing long-term leases in order to provide steady cash flows for the mall owners. When the planned shopping centre format was developed by Victor Gruen in the early to mid-1950s, signing larger department stores was necessary for the financial stability of the projects, to draw retail traffic that would result in visits to the smaller shops in the centre as well. Anchors have their rents discounted, may receive cash inducements from the centre to remain open. Early on, grocery stores were a common type of anchor store. However, research on consumer behavior revealed that most trips to the grocery store did not result in visits to surrounding shops.
Large supermarkets remain common anchor stores within power centers however. As of 2005, the declining popularity of old-line department stores makes it necessary for mall management companies to consider re-anchoring with other retail alternatives, or mix commercial development with residential development to guarantee a captive clientele; the challenges faced by the traditional large department stores have led to a resurgence in the use of supermarkets and gyms as anchors. The International Council of Shopping Centers makes the presence of anchors one of the main defining characteristics of the two largest categories of centres, the regional center with 400,000 to 800,000 square feet in gross leasable area, the superregional center with more than 800,000 square feet of space; the regional center has two or more anchors, while the superregional has three or more. In each case, the anchors account for 50–70% of the centre's leasable space. Shopping centres with anchor stores have outperformed those without one, as the anchor helps draw shoppers attracted to the anchor to shop at other shops in the mall.
Retail Shopping centre Supermarket
The Metreon is a shopping center located in downtown San Francisco at the corner of 4th Street and Mission Street. It is a four-story 350,000 square foot building built over the corner of the underground Moscone Center convention center. Metreon opened on June 16, 1999, as the first of a proposed chain of Sony "urban entertainment centers", aggregating dining, music, exhibitions and movies. Sony intended the ambitious 85 million dollar project to be not only a theme park and gallery for Sony products but a way to reinforce a sophisticated image for the Sony brand. In 2006 Metreon was sold to Westfield, a mall developer, it was refashioned as a food-oriented mall. In 2011, with few exceptions, remaining businesses in the mall were closed. Westfield began a major renovation with an emphasis on dining, including Target creating a large downtown department store that now takes up the second floor. In April, 2012, the Westfield sold the Metreon to Starwood Capital Group. Westfield continues to be responsible for management.
The Metreon's original attractions included a movie theater including both standard and IMAX screens, a multimedia edutainment presentation involving audio-animatronics and 3-D film based on the famous book The Way Things Work by David Macaulay, a play area for young children based on Maurice Sendak's popular children's book Where the Wild Things Are, an arcade and bar, the Airtight Garage, based on French comic artist and graphic designer Jean "Moebius" Giraud's graphic novel of the same name and featuring all original games. In October 2001 Metreon, in partnership with Sony's anime television network, was host to an anime festival, in which numerous anime titles were broadcast across its Action Theatre; as a hub for Sony products, the Metreon hosted special events for the public when new products were released. Consumers flocked to the Metreon for high-demand items such as the PlayStation, PlayStation 2, PlayStation Portable and PlayStation 3. Although Sony opened two additional centers in Tokyo and Berlin in 1999, the original center failed to turn the expected profit.
Despite promising first-year foot traffic of six million, one million ahead of pre-launch projections, by the summer of 2001 "The Way Things Work" was closed. The other major exhibit, "Where the Wild Things Are," closed sometime after July 2004; the Airtight Garage's games proved unpopular, with the exception of HyperBowl, a 3D obstacle course bowling game featuring air-supported bowling balls used as trackballs, they were replaced by other, better-known games, until the arcade was closed reopened as "Portal One," which preserved the decor, full bar, Hyperbowl but was otherwise a more typical arcade. Sunday May 13, 2007 was Portal One arcade's last day of operation; the arcade was relaunched again as a Tilt. The 16-screen Loews theater was a success, becoming one of the most profitable theaters in the country and claiming much of the Metreon foot traffic. By 2002, there were persistent rumors. In February 2006, Metreon was sold to The Westfield Group, the owner of the nearby Westfield San Francisco Centre shopping mall, Forest City Enterprises, a real estate development company.
In early 2009, Sony announced that it would be closing the Sony and PlayStation stores, the last flagship stores located in the mall. Following the announcement, on March 3, 2009, the San Francisco Redevelopment Agency approved plans from owners Westfield Group and Forest City Enterprises to renovate Metreon into a "restaurant-centric" mall. Expected modifications include relocation of the Fourth and Mission street entrance to the center of the block and the installation of a food terrace facing Yerba Buena Gardens; the San Francisco Filipino Cultural Center and the "Tavern on the Green" restaurant were projected tenants. Tavern on the Green, entered bankruptcy on September 11, 2009, "throwing into doubt" the plans for the Metreon location. A seven-day-a-week farmers' market operated as an interim tenant in the former Discovery Channel Store space between May and November 2009, it closed in November 2009. The Metreon building has been redeveloped as a Target store, opened in October 2012. Target is leasing 99,677 square feet.
Other tenants are the AMC theater, now with its own entrance, a food court, Chronicle Books, Massage Envy, National University, The City View event space, various other food purveyors not directly in the court. The Sanraku sushi restaurant and Buckhorn sandwich shop remain in the new food court, along with Jillians, now only accessible from outside; the movie theater has experienced upgrades, with the IMAX auditorium now featuring their new laser projector, the addition of Dolby Cinema and recliner seats. The Metreon 16, an IMAX 3D movie theater and Dolby Cinema theater operated by AMC Theatres, Jillians, a restaurant, are the only attractions remaining open as Target moves in; the Metreon was home to the Walk of Game, loosely based on the Walk of Fame — honorees include Shigeru Miyamoto, Nolan Bushnell, StarCraft, Sid Meier, John D. Carmack, Super Mario, Sonic The Hedgehog, Link from The Legend of Zelda series. A special Walk of Game event took place there in 2005 and 2006, it was unknown that it would continue and is now most obsolete, now that Target is taking up the second floor where the Walk of Game was.
Official website Island Earth Farmers' Market Website Sarkar, Pia. "Metreon gets new lease on life: Purchase by Westfield and Forest City ad
Westfield Mission Valley
Westfield Mission Valley Mission Valley Center, is a shopping mall in Mission Valley area of San Diego, owned by The Westfield Group. Its anchor stores are Michaels, Bed Bath and Beyond, Macy's Home & Furniture Store, Nordstrom Rack, Bloomingdale's Outlet Store and Target. There is an AMC Theatres multiplex. In early 1958, May Centers proposed rezoning 90 acres in the sparsely-populated Mission Valley area of San Diego to build a shopping mall. In June 1958, the San Diego City Council unanimously voted in favor of rezoning the 90 acres for the May plan. By 1959, the mall was under construction, completed in late 1960, with a grand opening on February 20, 1961. Designed by the San Diego-based architectural firm Deems-Lewis, the mall contained two large anchor spaces, occupied by Montgomery Ward, May Company, 70 inline stores, as well as a large central courtyard. Due to its location in the floodplain of the San Diego River, the mall was designed with the stores on the level above the parking garage.
In the event of a flood, only the parking garage would be flooded, with the retail level untouched. It was San Diego's second mall, following the opening of the College Grove Center in 1960; the mall underwent its first expansion in 1975, with the completion of a new 3-story Bullock's, 11 new stores. Eight years in 1983, the mall underwent a significant remodel, with a new Northeast wing built, which added a two-story Saks Fifth Avenue. In 1994, Westfield Group acquired the mall. Along with this acquisition, another major renovation of the mall was undertaken, with a new AMC Theatres 20-screen multiplex built atop the south parking lot; the renovation project retrofitted several new stores in existing space in the northeast wing, including Michaels, Nordstrom Rack, Loehmann's, Bed Bath & Beyond. Additionally, a large center courtyard constructed as a children's playground, was covered over to provide space for a Ruby's Diner. Around this time, Macy's acquired the Bullock's chain of department stores, which led to a rebranding of the Bullock's as a Macy's.
Borders Books & Music, Marshalls, DSW, The Good Guys, Old Navy added in 1995 also. The Good Guys closed in 2005, it replaced by Golfsmith a year later. Borders Books & Music converted into Giant Book Sale until 2012. Trader Joe's and Ulta Beauty opened up in the former Borders Books & Music in 2013. Golfsmith converted into a Golf Galaxy in 2017 also. In 2001, one of the malls original tenants, Montgomery Ward, was shuttered when the chain went bankrupt. A year Target opened in the former Ward's space. In 2006, Macy's completed its acquisition of May Company, the former Robinsons-May space was subsequently rebranded as a Macy's. In 2017 Macy's revealed. In August 2008, Westfield Group filed an application for a major renovation to the Westfield Mission Valley shopping center; the project envisions a 500,000 sq ft expansion of retail space for stores, 50,000 sq ft of commercial space, adjacent condominiums and parking. Real estate industry experts expect the project to be long-term, development to last five to ten years.
10 years no renovations has been done to Westfield Mission Valley Shopping Center Official website
J. C. Penney
J. C. Penney Company, Inc. is an American department store chain with 864 locations in 49 U. S. states and Puerto Rico. In addition to selling conventional merchandise, J. C. Penney stores house several leased departments such as Sephora, Seattle's Best Coffee, auto centers, optical centers, portrait studios, jewelry repair. Most J. C. Penney stores are located in suburban shopping malls. Before 1966, most of its stores were located in downtown areas; as shopping malls became more popular during the half of the 20th century, J. C. Penney followed the trend by relocating and developing stores to anchor the malls. In more recent years, the chain has continued to follow consumer traffic, echoing the retailing trend of opening some freestanding stores, including some next door to competitors. Certain stores are located in power centers; the company has been an Internet retailer since 1998. It has streamlined its catalog and distribution while undergoing renovation improvements at store level. James Cash Penney was born in Missouri.
After graduating from high school, Penney worked for a local retailer. He relocated to Colorado at the advice of a doctor, hoping that a better climate would improve his health. In 1898, Penney went to work for Thomas Callahan and Guy Johnson, who owned dry goods stores called Golden Rule stores in Colorado and Wyoming. In 1899, Callahan sent Penney to Evanston, Wyoming, to work with Johnson in another Golden Rule store. Callahan and Johnson asked Penney to join them in opening a new Golden Rule store. Using money from savings and a loan, Penney joined the partnership and moved with his wife and infant son to Kemmerer, Wyoming, to start his own store. Penney opened the store on April 14, 1902, he participated in the creation of two more stores and purchased full interest in all three locations when Callahan and Johnson dissolved their partnership in 1907. In 1909, Penney moved his company headquarters to Salt Lake City, Utah to be closer to banks and railroads. By 1912, Penney had 34 stores in the Rocky Mountain States.
In 1913, all stores were consolidated under the J. C. Penney banner; the so-called "mother store", in Kemmerer, opened as the chain's second location in 1904. It still operates, as of 2018, albeit with shorter hours than many other locations, is closed on Sundays. In 1913, the company was incorporated under the new name, J. C. Penney Company, with William Henry McManus as a co-founder. In 1914, the headquarters was moved to New York City to simplify buying and transportation of goods. By 1917, the company operated 175 stores in 22 states in the United States. J. C. Penney acquired The Crescent Corset Company in 1920, the company's first wholly owned subsidiary. In 1922, the company's oldest active private brand, Big Mac work clothes, was launched; the company opened its 500th store in 1924 in Hamilton, James Cash Penney's hometown. By the opening of the 1,000th store in 1928, gross business had reached $190,000,000. In 1940, Sam Walton began working at a J. C. Penney in Iowa. Walton went on to found future retailer Walmart in 1962.
By 1941, J. C. Penney operated 1,600 stores in all 48 states. In 1956, J. C. Penney started national advertising with a series of advertisements in Life magazine. J. C. Penney credit cards were first issued in 1959. In 1962, J. C. Penney entered discount merchandising with the acquisition of General Merchandise Company which gave them The Treasury stores; these discount operations proved unsuccessful and were shuttered in 1981. In 1963, J. C. Penney issued its first catalog; the company operated in-store catalog desks in eight states. The catalogs were distributed by the Milwaukee Catalog distribution center; the company dedicated its first full-line, shopping center department store in 1961. This store was located in Audubon, New Jersey; the second full-line shopping center store was dedicated, at King of Prussia Plaza, in King of Prussia, Pennsylvania in late 1962. Those stores expanded the lines of merchandise and services that an average J. C. Penney carried to include appliances, sporting goods, garden merchandise, beauty salons, portrait studios, auto parts, auto centers.
J. C. Penney expanded to include Hawaii in the 1960s; the company opened stores in Anchorage and Fairbanks, Alaska in 1962. The Penney Building in Anchorage collapsed and was damaged beyond repair in the 1964 Alaska earthquake; the company rebuilt the store as a shorter building on a larger footprint and followed up by building Anchorage's first public parking garage, which opened in 1968. In 1966, J. C. Penney "finished" its national expansion with the opening of its Honolulu, Hawaii store, at Ala Moana Center; the Penney store at Plaza Las Américas mall in San Juan, Puerto Rico, which opened in 1968, featured three levels and 261,500 square feet. It was the largest J. C. Penney until a 300,000-square-foot store was dedicated at Greater Chicago's Woodfield Mall in 1971; the Woodfield Mall store served as the largest in the chain until a replacement store opened at Plaza Las Américas in 1998, 350,000 square feet in size. In 1969, the company acquired Thrift Drug, a chain of drugstores headquartered in Pittsburgh, Pennsylvania.
It acquired Supermarkets Interstate, an Omaha-based food retailer which operated leased departments in J. C. Penney stores, The Treasury stores, Thrift Drug stores. On February 12, 1971, James Cash Penney died at the age of 95. Out of respect for his death, the company's stores were closed for the morning of February 16 during his funeral; that year, the company's revenues reached $5 billion
Westfield Culver City
Westfield Culver City, is a shopping mall in Culver City, owned by the Westfield Group. Its anchor stores are Best Buy, J. C. Penney, Macy's, Nordstrom Rack, Target. Westfield America, Inc. a precursor to Westfield Group, acquired the shopping center in 1998 and renamed it "Westfield Shoppingtown Fox Hills", dropping the "Shoppingtown" name in June 2005. The former Robinsons-May department store closed in 2006 and was demolished in 2008 for a new wing including Target and a Best Buy store in 2009. A transit center is located in the mall's parking lot, served by Culver City Transit Bus routes 2, 3, 4, 6; the Santa Monica Big Blue Bus routes 12, 14 and Metro Local Bus routes 108, 110, 217, 358. Opened on October 5, 1975, Fox Hills Mall was one of the first 3-level malls in California. Gruen Associates were the project architects. Situated on a 50-acre site, the Mall opened with three anchor tenants: JC Penney, The Broadway and May Co. and nearly 92% initial occupancy. Notable elements of its original design were a glass-and-steel "theme" staircase in the center of the mall, as well as the angled bridges which connected the multiple levels.
The theme staircase was removed during the 2009 renovation. Los Angeles food critic Jonathan Gold gave the mall food court a complimentary review that highlighted the ethnic diversity of the food choices available: "After 60-odd years in Los Angeles, the city that invented the modern shopping center, a developer gets it... Fox Hills has always been among the most multiracial of Los Angeles malls, downhill from the posh African-American homes of Baldwin Hills and Ladera Heights, close to the Asian and Muslim enclaves of south Culver City, in proximity to Westchester and the Marina and Playa del Rey...... Brilliant: not quite, but other mall operators would do well to pay attention." Macy's J. C. Penney Nordstrom Rack Target Trader Joe's Best Buy Westfield Group official Westfield Culver City website Kinney Shoe store commercial taped in Fox Hills Mall Fox Hills Mall Opens in Culver City, Dick Turpin, Los Angeles Times, October 1975
Westfield Galleria at Roseville
Westfield Galleria at Roseville is an upscale shopping mall in Roseville, United States. Owned by the Unibail-Rodamco-Westfield, it is located at the corner of Galleria Boulevard and Roseville Parkway near the junction of State Route 65 and Interstate 80. An early plan considering building a mall in the neighboring city of Rocklin. After a long and tedious process, the Rocklin plans were submitted to Roseville. On July 25, 1995, a phased mall with three anchors was approved. On June 25, 1998, after stronger than anticipated demand, a single phase mall with four anchors was approved after Nordstrom committed to building a store as the fourth anchor; the $100 million Galleria at Roseville was built and opened on August 25, 2000 by Urban Retail Properties, Inc. In 2000, Urban was acquired by Rodamco North America, N. V, a Netherlands-based real estate investment company; the center was subsequently sold to the Westfield Group in 2002 with the dissolution of Rodamco. At that time, the center was renamed "Westfield Shoppingtown Galleria at Roseville."
The Shoppingtown moniker was dropped from all Westfield properties in 2005. In 2018, its management and owner Westfield Corporation got acquired by Unibail-Rodamco, was rebranded as Unibail-Rodamco-Westfield. In 2015, Sears Holdings spun off 235 of its properties, including the Sears at Westfield Galleria at Roseville, into Seritage Growth Properties. On April 17, 2018, Sears announced, it shuttered in July 2018. The building will be repurposed to accommodate a Century Theatres cinema complex and a Round One Entertainment center, scheduled to open in 2019; the former auto center will become AAA. Outparcels on the Seritage site include Lazy Dog Restaurant & Bar, Mansour's Oriental Rug Gallery and Pier 1 Imports In 2004, Westfield announced plans to expand the Galleria. After several changes, the expansion consisting of 400,000 square feet of new and reconfigured retail space, a new Dining Terrace, expansions to the two department stores was approved; the mall's original food court and part of its outdoor Promenade area were demolished, an existing Crate & Barrel store was relocated to accommodate the project.
The expansion was completed in 2009 at a final cost of $270 million. From late 2008 to mid-2009, new retailers began coming to a luxury wing. Upon completion, the expanded property surpassed Arden Fair Mall as the largest mall in the Sacramento metropolitan area both in size and number of stores. JCPenney Macy's Nordstrom On October 21, 2010, at around 10:30 am, a major fire started in the GameStop store as a result of arson; the suspect claimed to have a handgun when he entered the store. The suspect claimed that his "sister had been kidnapped by aliens" told employees to exit the GameStop, at which point, he barricaded himself in the GameStop and set fire to the merchandise. SWAT, firemen and the police arrived after a call, a standoff occurred outside the GameStop while the mall was evacuated; the suspect, Alexander Piggee, 23 years old at the time, was arrested. The bomb squad had tried to search the backpack, but their attempt was stopped when the fire unexpectedly erupted again, after having been quieted down by the sprinklers.
The fire caused significant damage to part of the mall, but was brought under control after four hours. It has been reported that the night before he had set a fire at a Walmart in nearby Antelope and police were searching for him. Piggee had set fire to his grandmother's house the week before the incident at the Galleria. No injuries were reported during these incidents. Extra firefighters from nearby communities were called in to help fight the fire. A total of 20 stores were destroyed by the fire, including the GameStop, Anchor Blue, FYE, American Eagle Outfitters, PacSun. A section of the roof collapsed into the fire area. Damage is estimated by ATF officials at around $55 million. Though the majority of the building was left intact after the fire, the mall was closed for a week. California Governor Arnold Schwarzenegger declared a state of emergency in Placer County the day after the fire. Roseville city officials have said that as many as 40 stores in the undamaged sections of the mall reopened on Thursday, October 28.
Another 80 stores, including Macy's were re-opened by Thanksgiving and the 40 stores near the fire area plan to be reopened after the first of the year. On October 28 the undamaged part of the mall re-opened, two days a party was held at the mall to celebrate the reopening, as well as Halloween and to get support in the rebuilding of the mall. On October 6, 2011, the mall unveiled a renovation that included new lighting, new ceiling decor, new carpet and railings, reopened the Macy's wing with a mix of new tenants and returning stores. Alexander Piggee subsequently pleaded guilty to setting the fire, Federal Judge John Mendez sentenced Piggee to 15 years, after which he will be on probation for 6 years. Both defense and prosecution attorneys had requested a sentence of 10 years, but Mendez issued a longer sentence, calling Piggee a threat to public safety. Westfield Corporation Westfield Galleria at Roseville Official Site Westfield Galleria at Roseville Development Website City of Roseville
Mall at University Town Center
The Mall at University Town Center, referred sometimes as The Mall at UTC, is a shopping mall located in Sarasota County, Florida just south of the Manatee County line near the community of Lakewood Ranch. It opened on October 16, 2014 and is anchored by Saks Fifth Avenue, Macy's, Dillard's; the Mall at University Town Center began in 2002, when the Benderson Corporation purchased the land and announced their intention to build the land into a regional mall. In 2007, Nordstrom signed a letter of intent to open at the mall. Neiman Marcus and Macy's signed letters of intent soon after, with a planned groundbreaking in 2008 and a planned opening in 2010; the Taubman Corp. joined the project in a 50/50 split with Benderson. In Summer of 2009, the project was placed on hold due to a recession, the three planned anchor stores pulled out. On October 15, 2012, a revamped Mall at University Town Center was unveiled. Macy's rejoined the project, this time joined by Saks Fifth Avenue. Construction commenced soon after, the $315 million project opened two years later.
The mall was the first new-build enclosed shopping mall. The District East and The District West are two shopping centers located just east and west of the Mall at UTC; the District West includes retailers such as Super Target, Best Buy, Old Navy. The District East is slated to include hotels, a movie theater and housing. Bordering Nathan Benderson Park, home of the 2017 World Rowing Championships; the District East is under development. Official website