When it comes to shopping, there are many different types of centers that offer a variety of experiences. From luxury stores to one-of-a-kind boutiques, Las Vegas is the place to find just about anything you're looking for. But what are the different types of regional shopping centers? Let's explore. The International Association of Shopping Centers (ICSC) defines nine types of shopping centers, each with its own characteristics and purpose. The most common type of regional center is a typical shopping center.
These centers are typically large, enclosed, and surrounded by parking lots. They have more than two main stores and a variety of store types, with clothing stores being the most common. These centers are designed to make it easier for people in a particular neighborhood to buy groceries and other daily needs. Neighborhood centers are designed to provide convenient shopping for the daily needs of consumers in the immediate area. Depending on the location and character of the regional center, it may include single-family neighborhoods.
These centers usually have smaller stores that offer basic items such as groceries, clothing, and household goods. Regional success centers are being transformed into spaces for consumer participation, offering more things to do instead of focusing solely on things to buy and own. These centers have high-end stores, boutiques, and craft stores that offer unique, high-quality products. Examples of regional success centers include The District, Town Square, Meadows Mall, Downtown Summerlin, Galleria and Boulevard Mall. Two new regional centers currently under construction, The Bend and Uncommons, are perfect examples of how this trend of “experience-oriented shopping” is changing development. According to Kearney's article Four Visions of the Future of Shopping Centers: “To be successful in the future, the industry needs to think like the customers it serves.”The current regional malls in Las Vegas include McCarthy Ranch Marketplace, Town Center Shopping Center and Great Mall.
All three are located in the General Commercial area and have a minimum of one million (1,000,000) square feet of adjoining leasable area. When considering investing in this type of commercial real estate, it's important to understand the different types of malls that exist. Knowing the types of malls and the likely experiences of visitors is useful when deciding what is the best shopping stop for your group.
