What New Anchor Strategy is Making Waves in Commercial Real Estate?

Commercial real estate is entering a new phase, and water park development is emerging as one of its most compelling anchor strategies. In 2026, more mixed-use and retail developments are placing water parks at the center of the site plan to attract visitors, extend dwell time and support surrounding tenants.

This shift reflects a broader change in how the industry defines an anchor. Instead of relying mainly on a large retailer to generate foot traffic, developers now look for experiences that encourage people to stay longer, return more frequently and interact with several parts of the property in a single visit.

The Emergence of Water Parks as Anchor Attractions

For years, the anchor in commercial real estate usually meant a major retail tenant that could draw a dependable stream of shoppers. Today, developers increasingly want an anchor that does more than fill square footage. They want one that generates energy throughout the development, shapes the property’s identity and gives visitors a reason to spend more time on-site.

Water parks fit that need because they bring together recreation, social activity and destination appeal in one setting. A well-positioned aquatic attraction can support nearby restaurants, hotel rooms, entertainment spaces and specialty retail by giving guests a reason to visit in the first place. That broader impact makes the concept highly relevant to commercial real estate professionals who are thinking beyond simple footfall and toward full-site performance.

The trend also aligns with a more experience-driven market. People increasingly look for places that combine leisure, family-friendly entertainment and dining in one destination. Developers are responding by creating projects that feel more immersive and memorable. Water parks meet that expectation especially well because they create activity throughout the day and appeal to families, groups, tourists and local visitors.

How Water Park Development Supports Mixed-Use Real Estate Value

Water parks succeed as anchor attractions because they influence multiple drivers simultaneously:

• These attractions encourage guests to spend more time on-site, increasing opportunities for dining, shopping and additional entertainment spending.
• Water parks give a development a clear visual and marketing identity, helping it stand out in a competitive market.
• Water-based attractions support a wide mix of complementary uses, including hospitality, retail, food and beverage and residential positioning.

Industry reporting has also pointed to confidence in this segment. The 2025 outlook projected 526,080 square feet of new indoor waterpark space, which is up from 392,800 square feet in 2024. That increase suggests investors and developers continue to see water park development as a practical way to create all-season demand and support broader commercial activity.

How Water Parks are Transforming Mixed-Use and Redevelopment Projects

The best examples of the new anchor strategy appear in mixed-use development, where success depends on how well each component supports the others. A water park can serve as a connective bridge among retail, dining, lodging, public space and entertainment, creating an immediate focal point for activity. It’s especially valuable for projects aiming to become regional destinations rather than simple local shopping centers.

This strategy also has strong appeal in redevelopment settings, where owners and developers want to reposition established properties for a more experience-oriented market. For instance, several large-scale smart city developments cost over $100 billion, underscoring investors’ continued preference for integrated, experience-driven environments.

Indoor water parks are a growing trend, with several projects using aquatic attractions as central features in broader transformations. That pattern shows how the industry now views entertainment-led anchors as a meaningful path toward revitalized site planning and renewed market relevance.

In redevelopment projects, water parks can help teams:

• Introduce a new use that immediately changes the property’s identity.
• Attract attention early in the project life cycle and support leasing momentum.
• Create stronger connections among food, entertainment, lodging and public gathering areas.

This approach works best when the development team integrates the attraction into the wider circulation plan.

The most effective projects position the water park to influence pedestrian flow, visual identity and tenant adjacency. That integrated mindset is helping shape the next generation of commercial real estate planning.

Best Practice for Water Park Development in Commercial Real Estate

As interest in water park development grows, execution becomes more important. Developers need a concept that fits the market, a layout that encourages cross-traffic and a design strategy that connects the attraction with surrounding uses. The goal is to make the attraction reinforce all other on-site revenue-producing elements.

Water park design emphasizes immersive guest experiences and destination-wide planning. That focus extends to the design process itself. Project developers can do in-person or web-based design meetings, physical sampling, and custom finish selection. These preparations contribute to both operational performance and visual identity in aquatic developments.

Why the Numbers Support the New Anchor Strategy

The growing role of water parks in commercial real estate is also backed by industry growth data indicating continued developer and investor interest. The U.S. and Canada recorded 1,253 water parks as of February 2025. The Midwest accounts for 84 of the 154 indoor water park resorts, giving it the largest share of the market.

It also leads the broader water park sector in the South, with 448 properties in the Midwest and 417 in the South. On the other hand, the South leads in resorts with outdoor water parks, having 63 facilities. These numbers suggest that water park development is gaining momentum as a viable way to create year-round traffic, strengthen destination appeal and support surrounding tenants in mixed-use environments.

The Future of Water Parks as Anchor Attractions

Commercial real estate professionals should pay close attention to how water-based anchors fit different market types. Indoor formats can support year-round visitation, while wave-oriented concepts offer especially strong placemaking value in destination-focused developments. Some projects may also explore hybrid approaches that combine aquatic recreation with hospitality, entertainment, and public-space programming in one coordinated plan.

The anchor of the future goes beyond occupying square footage. It creates movement, attention, and repeat engagement across the entire development. Water parks now represent a visible impact on commercial real estate.