What does "tenant mix" refer to in retail leasing?

"Tenant mix" in retail leasing refers to the diversity of businesses located in a shopping center or retail space. This concept emphasizes the variety of retail tenants present, which can include different types of shops, services, and food establishments. A well-balanced tenant mix is crucial because it can attract a broader customer base, enhance the shopping experience, and promote synergy among businesses.

For instance, having a combination of clothing stores, restaurants, and entertainment options can appeal to different demographics and encourage customers to visit more frequently. Retail spaces strive for an effective tenant mix to optimize foot traffic and sales for all tenants involved.

The other options touch on aspects related to retail spaces but do not capture the essence of "tenant mix." The total number of tenants in a shopping center does not account for the diversity of offerings, while the number of similar businesses could lead to oversaturation and diminished appeal. Lastly, customer demographics focus on the shoppers rather than the tenants themselves, which diverges from the concept of tenant mix.