satellite tenant

satellite tenant

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

References in periodicals archive ?
Moreover, courts need to recognize the difference between a satellite tenant's breach of an ICCO and a similar breach by an anchor tenant.
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 strong grocery anchor coupled with its high credit satellite tenants ...
"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. The centers tend to be in a suburban setting and rely upon their convenience to area residents.

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