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A shopping street or shopping district is a designated road or quarter of a city/town that is composed of individual retail establishments (such as stores, boutiques, restaurants, and shopping complexes). Such areas will typically be pedestrian-oriented, with street-side buildings, wide sidewalks, etc. [1] [2]
Real estate is property consisting of land and the buildings on it, along with its natural resources such as growing crops (e.g. timber), minerals or water, and wild animals; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general.
The International Council of Shopping Centers classifies as a neighborhood shopping center, centers usually anchored by a supermarket (in Asia-Pacific it may also be a hypermarket) with a general mix of retail store types that have: [1] [2] [3] in the United States, gross leaseable area of 30,000 to 125,000 square feet (2,800 to 11,600 m 2)
Some areas of the city may be designated for 'mixed usage', which means some commercial areas may be used for residential purposes. A quaint downtown shopping area with apartments would be an example of mixed usage. Commercial areas definition may include industrial usage as well, although zoning laws still regulate the level of industry permitted.
The International Council of Shopping Centers, based in New York City, classifies two types of shopping centers as malls: regional malls and super regional malls.A regional mall, per the International Council of Shopping Centers, is a shopping mall with 400,000 sq ft (37,000 m 2) to 800,000 sq ft (74,000 m 2) gross leasable area with at least two anchor stores. [8]
A shopping precinct (U.K. term) or pedestrian mall (U.S. term) is an area of city centre streets which have been pedestrianized, where there is a concentration of "high street shops" such as department stores, clothing and home furnishings stores, and so forth. [9]
The International Council of Shopping Centers makes the presence of anchors one of the main defining characteristics of the two largest categories of centres, the regional center with 400,000 to 800,000 square feet (74,000 m 2) in gross leasable area, and the superregional center with more than 800,000 square feet (74,000 m 2) of space.
The DCF model is widely used to value larger and more expensive income-producing properties, such as large office towers or major shopping centres. This technique applies market-supported yields (or discount rates) to projected future cash flows (such as annual income figures and typically a lump reversion from the eventual sale of the property ...