Unanchored Centers: A New Trend

"Cooper Plaza will not look like a retail powerhouse when it opens in May. The 13,000-square-foot, Ocala, Fla., open-air center has no anchor, and its tenants are service-oriented retailers.

...Developers are also finding that unanchored center returns can be significantly better than those of grocery-anchored properties. Century's returns, for example, range between 10 and 15 percent on the unanchored centers it has owned and built, Drost says, which eclipses the average of about 7.8 percent on grocery-anchored..."