Glossary of Terms

Local Tenant 2016-05-25 08:00:00

Local Tenant

Also known as a “mom-and-pop", a local tenant is a small scale company with a narrow footprint typically limited to a single market. The company may have more than one location within a market but generally does not have locations in a wide geographic area. Local tenants contrast to national and regional tenants which have larger footprints. Despite a small number of locations, local tenants may not necessarily be viewed as a negative. For example, a local restaurant with a good reputation, a boutique clothing store, or a dry cleaner, may all serve a need for a given area and may be viewed as strong tenants for certain properties.