Destination Retail
A retail format where customers come specifically to one store for a particular reason and the retailer captures the value of that trip directly. Costco, Trader Joes, Apple stores, and BJ s Wholesale are canonical destination retailers -- they create their own traffic and do not depend on the broader center or co-located tenants. Destination retail real estate underwrites very differently from traffic-driver retail because the real estate value is concentrated in the single tenant rather than spread across an inline-tenant ecosystem.
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Related terms
Absorption Rate · AFFO per Share · Allowed Return on Equity · Alternative Investments · Anchor Tenant · Assets Under Management
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