To add or replace a major retailer (i.e., an anchor store) in a shopping mall or neighborhood. Also: reanchor.
Buffalo’s Benderson Development is getting back into the outlet mall business with the purchase of the Sarasota Outlet Mall, near Sarasota, Fla....Benderson plans to unveil a redevelopment strategy for the center in January, a plan that is expected to include the signing of new tenant anchors. ‘We’re going to re-anchor and reposition the mall in the marketplace,’ Ruben told a Florida newspaper.
—Sharon Linstedt, “Benderson Buys Florida Mall In Return to Outlet Business,” The Buffalo News, December 28, 1998
In terms of our current single asset acquisition pipeline, along with pursuing our fair share of larger transactions that we’re always reviewing, there are three single asset investments that we intend to close in the second quarter. The first is an acquisition redevelopment in our backyard here in Westchester, a small neighborhood center that we’re going to reanchor with a new Walgreen’s Drugstore.
—“Q1 2004 Acadia Realty Trust Earnings Conference Call — Final,”
FD (Fair Disclosure) Wire, April 23, 2004
Mr Stephen Donovan, from the agents Teska & Carson, said the new complex would “re-anchor” Camberwell Junction.
“Camberwell has a lot of leakage from its (potential shoppers) catchment area to major regional centres, but geographically the nearest retail centres are a long way away, being Northland, Box Hill and Chadstone,” he said.
—John Hurley, “Rebirth for junction,” The Age (Melbourne, Australia), July 10, 1996