Interaction between tenant-unit IP addresses and admin role security

Data Domain SMT docs state "Data access through the local IP addresses registered to a tenant-unit is restricted to the storage resources associated with that tenant unit." If an unrestricted admin user (that is, a user with a role of admin, not associated with a tenant-unit) connects to the local IP address which *is* associated to the tenant-unit, does the admin user (by virtue of having admin privileges globally) have full access to all data? Or, does it, by virtue of having connected to the local IP for the tenant-unit, have the access restricted to only the tenant-unit data?

Asking because of an interesting theoretical integration question with client software currently requiring an admin role.