Trophy or 5-star building: A landmark property designed by a recognized architect
Class A or 4-star building: Rents in the top 30-40% of the local market; well-located; above-average upkeep and management; usually older than a trophy/5-star building
Class B or 3-star building: Rents between Class A and Class C; fair-to-good locations; average upkeep and management
Class C or 2-star building: Rents in the bottom 10-20% of the local market; less-desirable locations; below-average upkeep and management
1-star building: Does not meet the needs of typical tenants; may be obsolete and/or in need of significant renovation
Super-regional shopping center: enclosed space; 800,000+ sqft; 5+ anchor stores with other tenants that sell a very large variety of goods
Regional shopping center: enclosed space; 400,000–800,000 sqft; 1–5 anchor stores with other tenants that sell a large variety of goods
Community shopping center: open space; 125,000–400,000 sqft; provides general merchandise and commodities (e.g., supermarket, discount department store)
Neighborhood shopping center: open space; 3,000–125,000 sqft; provides commodities to nearby neighborhoods (e.g. drug store)
Strip or convenience shopping center: open space; less than 30,000 sqft; located along suburban transportation arteries on shallow land parcels; a strip may be configured in a straight line, or have an "L" or "U" shape
Lifestyle center: "Main Street" concept with pedestrian circulation in core and vehicular circulation along perimeter; upscale national chain specialty stores, dining or entertainment (e.g. The Grove, Los Angeles, CA; Americana at Brand, Glendale, CA)
Freestanding: any stand-alone retail structure that is not part of a complex
Power center: among the largest types of retail properties; 3+ big box anchor stores; multiple large buildings with parking lot in front and loading in back; smaller retailers usually clustered in a community shopping center configuration
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