Specialty Leasing's Place in the Sun

By Elaine Misonzhnik
Retail Traffic February 2007

The proliferation of open-air centers has created new challenges in an often overlooked area: specialty leasing. Temporary tenants want exposure in these properties, but putting carts outdoors creates problems for both owners and retailers that require foresight, planning and additional cash. Retail merchandizing units (RMU) have become integral to the shopping center industry since their introduction in the 1970s. They can generate 10 to 15 percent of a mall's annual revenue for the shopping center owner by capitalizing on high-traffic common areas and allowing fledgling merchants to get a toehold in the market before they get their own storefront.

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