What is a Satellite Tenant?

A satellite tenant refers to a smaller or minor tenant that occupies space in a shopping center or commercial property, serving to complement and enhance the primary tenants. These tenants often provide specialty services or products that draw visitors and can help improve foot traffic for the larger tenants. This strategic positioning allows satellite tenants to thrive due to their proximity to larger, more established businesses.

In a shopping center context, satellite tenants are valuable for creating a diverse mix, which can attract a wider audience. They may not have the size or market presence of primary tenants, but they play a crucial role in the overall dynamics and success of the commercial space. This definition aligns perfectly with the concept of a satellite tenant as a complementary presence within a retail environment.