Anchor Box Backfill Cost Calculator

Backfilling anchor boxes is expensive. This calculator totals all-in.

Sqft

TI per sqft

$/sf

Commission %

Free rent months

New rent monthly

Downtime months

Old rent monthly

Total backfill cost

$2,911,000

TI cost

$1,575,000

Downtime cost

$868,000

How the math works

Backfill all-in = TI + commission + free rent + downtime cost. Sum for total anchor replacement spend.

A 35k sf anchor backfill regularly totals $2.5-4M of combined costs, often more than the TI cost alone would suggest. Downtime and free rent together frequently exceed hard TI. Underwrite with explicit buckets rather than rolled into a generic 'turnover cost' assumption.

How to Use

Enter box sqft.
Enter TI per sqft.
Enter commission %.
Enter free rent months.
Enter new rent monthly.
Enter downtime months.
Enter old rent monthly.
Read backfill cost.

Frequently Asked Questions

Typical TI?

Big box backfill TI 30-80/sf depending on configuration and repositioning. Grocery-anchored: $25-50/sf. Junior anchor (Marshall's, DSW): $15-30/sf. Fitness (LA Fitness, Orangetheory): $60-150/sf. Entertainment: $80-200/sf.

Commission?

4-6% typical on lease term PV, sometimes split new/renewal. Landlord-rep: 3-4%. Tenant-rep: 4-6%. On $15M/5-year lease, commission stack easily $700k-1.2M. Backfill scenarios often layered with tenant-rep premium.

Downtime?

Big box backfill downtime 12-24 months typical from dark to new rent start. Includes tour cycle (6-9 months), LOI/lease negotiation (3-4 months), TI construction (4-9 months). Retail center with anchor dark loses massive co-tenancy revenue during.