Market factors are as important to lenders as cash flow and lease expirations when deciding to invest in a shopping center. The following lender checklist should be addressed when evaluating the market factors of a shopping center.

• Retailers – Quality, quantity, mix and viability of anchors, in-line tenants and out-parcels
• Physical Plant – Configuration, site lines, parking and adjacencies
• Attributes – Access, visibility and traffic counts
• Situation – Regional draw, transportation network and placement in the market


• Geography – Actual trade area using charge card or survey data versus rings or drive times
• Demographics – Population base, growth, income, education, age, etc
• Portfolio Comparison – Subject center demographics versus existing centers in the client’s portfolio


• Existing – Regional and local
• Trade Area Comparison – Versus the subject center
• Future – Announced and market gaps


• Recommendations
• Pro/Con considerations
• Target tenant list