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They are often offered steep discounts on rent in exchange for signing long-term leases in order to provide steady cash flows for the mall owners. Some examples of anchor stores in the United States are: Macy's , Sears , JCPenney , Nordstrom , Neiman Marcus , Saks Fifth Avenue , Dillard's , Kohl's , Walmart , and Target .
The rental per square foot is proprietary information. Average pro-rata tax payment for a non-anchor store is about $2 per 1 square foot (0.093 m 2). [2] As of January 2015, mall management reported that the mall was fully tenanted with the exception of two food court spaces. [9]
The expansion and renovation of the Nittany Mall in 1989-1990 included the addition of a fourth anchor, JCPenney. Also at this time, the Sears store was expanded and relocated to a new east section of the mall while the Sears automotive center was moved to a separate location in the mall and eventually moved again to a new standalone building ...
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The mall was opened in 1963 by the R.H. Macy Company, which opened the 3-level, 318,800-square-foot (29,620 m 2) Macy's as the original anchor. [2] The open-air, 70-store first phase of the mall was completed by 1967, and originally included stores such as Record Town, Woolworth's, Lerner Shops, Bond's, [3] and JCPenney, which was the first in-line JCPenney location in the New York area at the ...
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The anchor stores are Round 1 Entertainment, HomeGoods, JCPenney, and Automotive Addiction. The mall opened in 1986 with a single anchor being ZCMI (later Meier & Frank then Macy's ). A Cineplex Odeon cinema opened in 1990 as the largest cinema in the state at the time with 2,350 seats spread across 10-screens.