The Continuous Occupancy Clause is a lease provision mandating that tenants, especially anchor ones, must keep their retail spaces open and operational to maintain the shopping center's viability.
Junior anchors are stores in a community or regional shopping center that are smaller than the anchor tenant, yet larger than the inline stores. They typically range from 15,000 to 40,000 square feet.
A Power Center is a type of shopping center that primarily features a small number of large tenants, typically anchor or junior anchor tenants. These tenants often serve as 'category killers' in their respective markets, dominating the retail segment they represent.
A radius clause in a shopping center tenant's lease restricts the tenant from opening another store within a specified distance from the shopping center to prevent competition and reduced traffic to both the existing store and the shopping center. This is often crucial for anchor tenants and can also apply to ancillary tenants.
Satellite tenants in a shopping center or mall are those tenants other than the anchor tenants, typically smaller retailers that benefit from the foot traffic generated by the anchor stores.
