The most common and most likely answer to this crossword clue is the 7 letter word DELIMIT
I've seen this crossword clue in Financial Times
D
E
L
I
M
I
T
More clues leading to the result DELIMIT
- Mark the boundaries of food shop next to college
- Model imitation houses set boundaries
- Establish food store with German
- Mark out shop, then university
- Bound to be afraid about the French being put up
- Mark boundaries of shop with German
- Shy about hugging, well, without restraints? Set boundaries!
- Establish food store at famous university
Buddy explains!

The straight part
We know that "Mark the boundaries of" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case mark the boundaries of = delimit.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does DELIMIT mean?
DELIMIT verb- To mark or fix the limits of.
- To demarcate.