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Landlord Tenant Law

The Modified Anchor Tenant in Enclosed Regional Malls

A Tenant's Perspective

As traditional department stores and so-called "anchor" tenants in enclosed regional malls are closing stores and limiting their expansion in the marketplace, landlords are seeking alternatives to the traditional department store or anchor store to occupy space in their shopping centers.

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As traditional department stores and so-called “anchor” tenants in enclosed regional malls are closing stores and limiting their expansion in the marketplace, landlords are seeking alternatives to the traditional department store or anchor store to occupy space in their shopping centers. (“Anchor tenants” can be defined as those selling a wide assortment of goods and occupying more than a certain number (e.g., 50,000) of contiguous square feet of floor area.) These anchor-tenant alternatives — referred to in this article as “Modified Anchor Tenants” or “MATs” — are often defined as follows: A collection of multiple tenants that in the aggregate occupy the lesser of:

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