Core and Explore

Definition

A property management strategy where core areas are maintained traditionally while newer sections are optimized for alternative uses or revenue. It's what happens when property managers get creative.

Example Usage

The mall implemented a core and explore strategy, maintaining the main corridor while converting upper floors to apartments.

Origin

Modern retail real estate strategy from 2010s

Fun Fact

Core and explore became popular after 2008 when many retail properties couldn't survive on retail tenants alone.

Source: International Council of Shopping Centers

Related Terms

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