Ferris State University graduate Scott Fish functions as the principal of UP Development, a firm which focuses on the management of retail projects in the Southeast. A resident of Franklin, Tennessee, developer Scott Fish has have most recently worked on projects for major big-box retailers like Dick’s Sporting Goods and Home Depot, two stores that often serve as anchor tenants in retail real estate properties.
An anchor tenant, by definition, is a major, recognizable retailer that serves as the primary draw for shopping traffic within a retail center. Anchor stores are usually surrounded by ancillary tenants, which are smaller, usually lesser-known retailers that gain more foot traffic from the shoppers patronizing the anchor tenant than they would independently.
Because of their ability to bring in customers, anchor tenants typically make a lower rent payment than other stores within a shopping complex. In large-scale retail real estate projects like malls or community centers, several anchor stores will be placed in proximity to each other to draw in an even higher number of shoppers.