8.1.7.2Vertical
Lifestyle & Outdoor Centers
Open-air shopping centers with experiential retail tenants.
Market snapshot
These figures describe Retail & Shopping Centers (8.1.7), the segment that Lifestyle & Outdoor Centers sits within — not Lifestyle & Outdoor Centers on its own.
FragmentationFragmentedEstimate
Retail leasing sits within nonresidential building lessors (NAICS 531120) and is not separately disclosed by the Census Bureau, so the segment is not separately sized here.
Business model & economics
Revenue model
Retail lease income (base rent plus percentage rent)
Key economics
- Recurring revenue
- Moderate–High
- EBITDA margin
- Center-quality-dependent
- Capex intensity
- High
recurring leases
Characteristics
- Stabilized after the e-commerce-driven shakeout.
- Grocery-anchored and open-air centers favored.
- Struggling malls being redeveloped into mixed-use.
M&A deal context
Deal activityModerate
Who’s acquiring
- Retail REITs
- Private-equity real estate
- Redevelopment & mixed-use investors
What’s driving deals
- Grocery-anchored and open-air demand.
- Mall redevelopment and repositioning.
- Omnichannel and necessity retail resilience.
Find Lifestyle & Outdoor Centers acquisition targets
Search Acquisera’s index for companies classified under Lifestyle & Outdoor Centers (8.1.7.2) and build a targeted deal pipeline.
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