satellite tenant

satellite tenant

Any tenant except the anchor tenants in a shopping center;usually a national or local tenant occupying smaller space.

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In a number of cases, where zoning allows, landlords will be also looking at non-retail uses that can fill space and drive traffic to satellite tenants.
The center's strong grocery anchor coupled with its high credit satellite tenants .
Thus, if the anchor is free to sublet, it can carve up its space for a number of satellite tenants and make a substantial profit for the balance of the lease term.
This, in turn, attracts satellite tenants, increases their business, and enables the landlord to charge higher rents, resulting in an overall enhancement of the value of the shopping center.
Because the gross sales of satellite tenants will decline, it will become difficult for many of them to pay their rent.
The center's high volume ShopRite coupled with its high credit satellite tenants including CVS and Chase, among others, will provide stable, long-term cash flow for Acadia.
These centers provide an attractive retail format: typically, a discount department store, a supermarket and several satellite tenants.

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