Shopping center in the context of "Victor Gruen"

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⭐ Core Definition: Shopping center

A shopping center in American English, shopping centre in Commonwealth English (see spelling differences), shopping complex, shopping arcade, shopping plaza, or galleria, is a group of shops built together, sometimes under one roof.

The first known collections of retailers under one roof are public markets, dating back to ancient times, and Middle Eastern covered markets, bazaars and souqs. In Paris, about 150 covered passages were built between the late 18th century and 1850, and a wealth of shopping arcades were built across Europe in the 19th century. In the United States, the widespread use of the automobile in the 1920s led to the first shopping centers consisting of a few dozen shops that included parking for cars. Starting in 1946, larger, open air centers anchored by department stores were built (sometimes as a collection of adjacent retail properties with different owners), and then enclosed shopping malls starting with Victor Gruen's Southdale Center near Minneapolis in 1956.

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Shopping center in the context of Online shopping

Online shopping is a form of electronic commerce which allows consumers to directly buy goods or services from a seller over the Internet using a web browser or a mobile app. Consumers find a product of interest by visiting the website of the retailer directly or by searching among alternative vendors using a shopping search engine, which displays the same product's availability and pricing at different e-retailers. As of 2020, customers can shop online using a range of different computers and devices, including desktop computers, laptops, tablet computers and smartphones.

Online stores that evoke the physical analogy of buying products or services at a regular "brick-and-mortar" retailer or shopping center follow a process called business-to-consumer (B2C) online shopping. When an online store is set up to enable businesses to buy from another business, the process is instead called business-to-business (B2B) online shopping. A typical online store enables the customer to browse the firm's range of products and services, view photos or images of the products, along with information about the product specifications, features and prices. Unlike physical stores which may close at night, online shopping portals are always available to customers.

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Shopping center in the context of Real estate investment trust

A real estate investment trust (REIT, pronounced "reet") is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of real estate, including office and apartment buildings, studios, warehouses, hospitals, shopping centers, hotels and commercial forests. Some REITs engage in financing real estate. REITs act as a bridge from financial markets and institutional investors to housing and urban development. They are typically categorized into commercial REITs (C-REITs) and residential REITs (R-REITs), with the latter focusing on housing assets, such as apartments and single-family homes.

Most countries' laws governing REITs entitle a real estate company to pay less in corporation tax and capital gains tax. REITs have been criticised as enabling speculation on housing, and reducing housing affordability, without increasing finance for building.

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Shopping center in the context of Merry Hill Shopping Centre

Merry Hill (formerly Intu Merry Hill, Westfield Merry Hill and The Merry Hill Shopping Centre) is a large shopping complex in Brierley Hill near Dudley, England. It was developed between 1985 and 1990, with several subsequent expansion and renovation projects. The centre is anchored by Harvey Norman, Marks & Spencer, Primark, Asda, Next and Hollywood Bowl.

The centre has more than 200 shops, a retail park, cinema, food court, arcade and more than 10,000 parking spaces. Adjacent to the main shopping mall is a marina called The Waterfront accommodating a number of bars, restaurants, the studios of Black Country Radio, and the Headquarters and Control Room of West Midlands Ambulance Service. The Dudley No.1 Canal passes through The Waterfront and along the edge of the shopping centre before descending to Delph Locks.

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Shopping center in the context of Shopping mall

A shopping mall (or simply mall) is a large indoor shopping center, usually anchored by department stores. The term mall originally meant a pedestrian promenade with shops along it, but in the late 1960s, it began to be used as a generic term for the large enclosed shopping centers that were becoming increasingly commonplace. In the United Kingdom and other countries, shopping malls may be called shopping centres.

In recent decades, malls have declined considerably in North America, partly due to the retail apocalypse, particularly in subprime locations, and some have closed and become so-called "dead malls". Successful exceptions have added entertainment and experiential features, added big-box stores as anchors, or converted to other specialized shopping center formats such as power centers, lifestyle centers, factory outlet centers, and festival marketplaces. In Canada, shopping centres have frequently been replaced with mixed-use high-rise communities. In many European countries and Asian countries, shopping malls continue to grow and thrive.

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Shopping center in the context of Power center (retail)

A power center or big-box center (known in Canadian and Commonwealth English as power centre or big-box centre) is a shopping center with typically 250,000 to 600,000 square feet (23,000 to 56,000 m) of gross leasable area that usually contains three or more big box anchor tenants and various smaller retailers, where the anchors occupy 75–90% of the total area.

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Shopping center in the context of Retail park

A retail park is a type of shopping centre found on the fringes of most large towns and cities in the United Kingdom and other European countries. Retail parks form a key aspect of European retail geographies, alongside indoor shopping centres, standalone stores like hypermarkets and more traditional high streets. They are a similar retail model to the North American power centers, neighborhood shopping centers and strip malls.

Cushman & Wakefield define a retail park as any shopping centre with mostly retail warehouse units, of a size 5,000 square metres (54,000 sq ft) or larger.

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Shopping center in the context of Civic center

A civic center or civic centre is a prominent land area within a community that is constructed to be its focal point or center. It usually contains of one or more dominant public buildings, which may also include a government building. Recently, the term "civic center" has been used in reference to an entire central business district of a community or a major shopping center in the middle of a community. In this type of civic center, special attention is paid to the way public structures are grouped and landscaped.

In some American cities, a multi-purpose arena is named "Civic Center", for example Columbus Civic Center. Such "civic centers" combine venues for sporting events, theaters, concerts and similar events.

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Shopping center in the context of Forest City Ratner

Forest City Realty Trust, Inc., formerly Forest City Enterprises, was a real estate investment trust that invested in office buildings, shopping centers and apartments across the United States The company was organized in Maryland with its headquarters in Cleveland, Ohio. As of December 31, 2017, the company owned 29 office buildings, 29 shopping centers, and 78 apartment complexes. On December 7, 2018, the company was acquired by Brookfield Asset Management.

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