Retail

• Can be defined as a simple ‘stand-alone' building with a retail occupant/tenant
• Single tenant properties are evaluated based on the strength of the tenant financially as well as remaining term of existing lease
• A strip center that has three (3) plus occupants/tenants
• Or a neighborhood center that normally has an ‘anchor' tenant who offer some form of grocery concept
• Locations are either urban or suburban and within all neighborhood types
• No single ‘tenant type' defines retail as it is typically a ‘zoning' classification (i.e. a church could be a tenant in a retail property)
• Parking is normally a major component to evaluation as is access to high traffic thoroughfares
• Leases are typically either Tripe Net, Month to Month or Gross Lease structures
• Properties are almost always single story
• Tenancy can include non-retail component as long as it is less than 20% of total square footage or income
• No manufacturing of any type is allowable for property to be considered retail
• Stand-alone restaurants are NOT considered retail either are multi-tenant properties where restaurant tenants comprise 30% or greater of square footage or income