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Simple English definitions for legal terms
prime tenant
Read a random definition: West Australian plan
A quick definition of prime tenant:
A prime tenant is a person or business that rents a large and desirable space in a commercial building. They are important because they help attract other good tenants and secure financing for the building's construction. It's like being the most popular kid in school and everyone wants to be your friend.A more thorough explanation:
A prime tenant is a commercial or professional tenant who leases substantial and preferred space in a commercial development. They have an established reputation and are important in securing construction financing and attracting other desirable tenants.
For example, a well-known restaurant chain may be a prime tenant in a shopping mall. Their presence can attract other popular stores and increase foot traffic, making the mall more successful.