Triple Net Lease Properties And Tenants
Unlike a gross lease where the tenant only pays a flat rent which is then used by the investor or property owner for paying operating expenses, a NNN lease requires the tenant to pay property taxes, insurance fee, and maintenance cost (if any) along with the base rent. The majority of NNN tenants are big established companies. Their presence in the NNN market ensures a regular and steady flow of income for investors. Some of the giants in the NNN tenant list includes -
1. PetSmart Inc. - PetSmart Inc. is the largest pet retailer that provides solutions for the lifetime needs of pets. The company consists of approximately 55,000 associates, and have nearly 1500 pet stores in the United States. The company is currently ranked 48th among the largest private companies by Forbes.
2. Burger King - Burger King is the second-largest fast-food hamburger chain in the world. It is owned and operated by Restaurant Brands International. The company operates across 15,000 locations and serves more than 11 million customers daily in approximately 79 countries and territories worldwide. Burger King was founded in 1954 and is currently headquartered in Miami, Florida.
3. McDonald's Corporation - McDonald's Corporation is the world’s leading global foodservice retailer spread across 36,000 locations that serve approximately 69 million customers in over 100 countries each day. Over 80% of McDonald's restaurants are owned and operated by individual men and women, whereas the remaining 20% are corporate-owned.
4. DaVita Inc. - DaVita Inc. is the parent company of DaVita Kidney Care and HealthCare Partners, a DaVita Medical Group, and is ranked among Fortune 500 companies. DaVita Kidney Care is a leading provider of kidney care in the United States that provides dialysis services to patients with chronic kidney failure.
5. CVS Health - CVS Health is the nation’s second-largest drugstore chain functioning at 9,600 locations in 45 states and Puerto Rico.CVS retail stores sell prescribed drugs as well as general merchandise including over-the-counter medication, beauty products, and convenience foods.
6. FedEx Corporation - FedEx Corporation provides customers and worldwide businesses with a vast portfolio of transportation, e-commerce, and business services. The company offers its services through four business segments: FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services.
7. AutoZone Inc. - AutoZone, Inc. is the largest retailer of aftermarket automotive parts and accessories in the United States. It has over 6,000 stores spread across the United States, Mexico, and Brazil. The company consists of nearly 70,000 members and operates approximately 5,000 stores in 48 states, Mexico and Puerto Rico and accommodates.
8. Sherwin-Williams - Sherwin-Williams is a building material supplier that engages in the manufacturing, distribution, and sale of paints and coatings. It operates approximately 4,500 stores nationwide. In 2016, the company had produced net sales of approximately $11.9 billion (USD), which is the company’s highest to date.
9. Dollar Tree - Dollar Tree, Inc. owns and operates more than 13,000 variety stores in the U.S. and Canada, offering discounted merchandise at $1.00 or less. The company operates its stores under the banners Dollar Tree, Deal$, Dollar Tree Deal$, Dollar Giant, and Dollar Bills.
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