1. How would one describe Walmart as a retail property? (I) Department store with high turnover and low margin with limited service (2) Department store with high turnover and high margin with limited service (3) Specialty store with high turnover and low margin with limited service (4) Department store with high turnover and low margin with high service 2. The owner of a retail centre has just completed renovations and has rented out all units to improve the tenant mix and eliminate high-risk tenants. Assuming no change in market conditions over the renovation and leasing initiatives, what would one expect when analyzing the value of the property? (I) A higher overall capitalization rate (2) A higher long-term vacancy rate (3) A lower overall capitalization rate (4) A lower effective gross income projection