An anchor tenant plays a pivotal role in the context of real estate development, specifically within shopping centers and office buildings. It usually refers to a prominent, well-known business that leases a significant portion of the property, thereby attracting other tenants and customers.
A common area is a portion of a property that is used and enjoyed by all owners or tenants within that property. Typical examples include clubhouses and pools in condominium developments, hallways and stairs in apartment buildings, elevators in office buildings, and the central mall area in shopping centers.
A structure used primarily for the conduct of business, such as administration, clerical services, and consultation with clients and associates. Such buildings can be large or small, and may house one or more business concerns.
A prime tenant in a shopping center or office building is the lessee who occupies the most space. Prime tenants are typically credit-worthy and attract significant traffic to the venue.
