One of the most common types of retail property, and one that Prime Realty Corp. excels in, is the leasing and sale of Neighborhood Centers. Neighborhood Centers provide shoppers with a convenient type of shopping environment that meets daily living needs. The patronage of this type of configuration is from the neighborhood and surrounding area. There can be smaller "destination" type retailers in these properties as well. The physical size of a Neighborhood Center can range up to 15 acres of land. The gross leasable area is generally in the range of 20,000 to 150,000 sq/ft.
The Importance of a Neighborhood Center
A Neighborhood Center is often designed as a straight strip of stores with an enclosed walkway. The parking area is usually located in the front of the stores with rear parking for tenants and facility maintenance. Supermarkets and drug stores account for the majority of anchor tenants in Neighborhood Centers. Retailers in these centers can be classified as either generative or suscipient.
Generative establishments serve those consumers that seek distinct destinations such as specialty and national brand retailers as well as department stores. Suscipient retailers support passing consumers and tend to be more service oriented-i.e., restaurants, hair and nail salons, dry cleaners, etc.. This sort of center is a crucial aspect of any community and one that needs to be run smoothly and efficiently. It can be the heart of a community, if managed properly.
Contact Prime Realty Corp. today to maximize the leasing and selling opportunities of your Neighborhood Center. The number to our office is (844) 774-6388. We have years of experience helping clients from across Long Island. We will gladly assist you with any questions or concerns you may about about this particular leasing option, as well as any other leasing option we provide.