Top 20 Tenant Diversification
(As of March 31, 2022)
Top 20 Tenants |
Number of Leases |
% of ABR |
Credit rating |
Hobby Lobby |
14 |
7.1% |
IG Profile1 |
Walgreens |
18 |
6.8% |
BBB / Baa2 |
7-Eleven |
21 |
6.3% |
A / Baa2 |
Dollar General |
43 |
5.6% |
BBB / Baa2 |
Advance Auto Parts |
40 |
5.1% |
BBB- / Baa2 |
CVS |
19 |
5.1% |
BBB / Baa2 |
Sam's / Walmart |
6 |
4.9% |
AA / Aa2 |
Lowe's |
4 |
4.6% |
BBB+ / Baa1 |
Best Buy |
6 |
4.1% |
BBB+ / A3 |
Dollar Tree / Family Dollar |
27 |
3.4% |
BBB / Baa2 |
Floor & Decor |
2 |
3.4% |
BB- / Ba3 |
Big Lots |
9 |
3.1% |
IG Profile1 |
Ollie's |
9 |
3.0% |
IG Profile1 |
Home Depot |
2 |
2.5% |
A / A2 |
Harbor Freight |
11 |
2.0% |
BB- / Ba3 |
Tractor Supply |
6 |
1.8% |
BBB / Baa1 |
Fresenius |
6 |
1.7% |
BBB / Baa3 |
Ahold Delhaize (Food Lion / Stop & Shop) |
2 |
1.6% |
BBB / Baa1 |
Burlington |
3 |
1.6% |
BB+ / Ba2 |
Kroger |
3 |
1.6% |
BBB / Baa1 |
Total |
251 |
75.4% |
1 IG Profile stands for Investment Grade Profile, which represents tenants with investment grade credit metrics (more than $1.0 billion in annual sales and a debt to adjusted EBITDA ratio of less than 2.0x), but do not carry a published rating from S&P, Moody’s, or NAIC.
Download Top 20 Tenants