I wanted to know, if I, as the franchisee lease the space, would I be the tenant of the space or the franchisor.
Your question hasn't changed and neither has the answer. If YOU lease the space, then YOU will be the tenant. If the franchise you intend to buy is organized as a corporation or LLC (or other similar entity), if you sign the lease in your capacity as an officer, member, or agent of that corporation or LLC, then the corporation or LLC would be the tenant. The franchisor wouldn't be the tenant unless you are an authorized agent of the franchisor and enter into the lease in theat capacity.