Excerpt from: Commercial Real Estate Loan Tips
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| November 10, 2005 | | What is a Lifestyle Center Anyway? | In South Bend, Indiana, they have recently torn down an indoor mall to build a lifestyle center. The new lifestyle center looks like a college campus and sports about a dozen national stores and a half-dozen upscale national restaurants. Lifestyle centers make little sense to me because it is darn cold here in Northern Indiana in the winter, but lifestyle centers are all the rage.
Here is a definition of lifestyle centers:
Most often located near affluent residential neighborhoods, this center type caters to the retail needs and "lifestyle" pursuits of consumers in its trading area. It is an open-air configuration and typically includes at least 50,000 SF of space occupied by upscale national chain specialty stores.
Other elements help the lifestyle center serve as a multi-purpose leisure-time destination, including: restaurants and entertainment, design ambience and amenities such as fountains and street furniture that are conducive to casual browsing; and often one or more conventional or fashion specialty department stores as anchors.
You can find several hundred lenders willing to finance lifestyle centers on C-Loans.com.
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