| Metric | Details |
|---|---|
| Company | Meijer, Inc., Grand Rapids, Michigan; privately held, family-owned |
| S&P / Moody’s | no verified rating / no verified rating |
| Investment grade status | Not Yet Verified |
| Markets | Michigan, Ohio, Indiana, Illinois, Kentucky and Wisconsin |
| History | Founded as a grocery store in Greenville, Michigan in 1934; first Thrifty Acres supercenter opened in Grand Rapids in 1962 |
| Median asking cap rate | Too few active Meijer listings with a published cap rate for a median; see peers in the live table below |
Meijer: no confirmed agency rating. A rating is shown here only after an agency rating action or an issuer filing confirms it. Without an agency rating, lease credit is assessed from financial statements and any guarantee in the lease. Ratings checked October 8, 2026. See the investment grade credit tenant ratings table.
Meijer Business Overview
Meijer is a family-owned retailer of groceries and general merchandise based in Grand Rapids, Michigan. Hendrik Meijer opened the company’s first store, a grocery, in Greenville, Michigan in 1934. Meijer opened its first Thrifty Acres supercenter, combining groceries and general merchandise, in Grand Rapids in 1962. Today it operates supercenters and smaller grocery formats in Michigan, Ohio, Indiana, Illinois, Kentucky and Wisconsin.
Meijer Credit Profile
Meijer is privately owned and family-operated (company website). A Meijer lease cannot be treated as investment grade credit without a verified rating at or above BBB‑/Baa3. A Meijer listing can be a ground lease, where the investor owns the land and the lease sets who owns the store building; confirm the tenant entity, any guarantee and building ownership in the lease.
Ratings come from our tenant ratings database, which records the source of each rating; the footnote below shows the source and when ratings were last checked. A rating at or above BBB‑/Baa3 is investment grade; see the investment grade guide.
Source: Our ratings database, checked October 8, 2026.
Meijer NNN Cap Rates
Live asking cap rates for Meijer and comparable tenants:
| Tenant | S&P / Moody’s | Median asking cap rate | Middle half of listings | Listings | Median vs. 10-year Treasury |
|---|---|---|---|---|---|
| Kroger | BBB / Baa1 | 5.00% | 5.00% to 5.25% | 9 | −24 bps |
| Walmart | AA / Aa2 | 5.13% | 4.44% to 5.81% | 6 | −12 bps |
| Aldi / Trader Joe's | n/a / n/a | 5.25% | 4.55% to 5.50% | 17 | +1 bps |
| Target | A / A2 | 5.33% | 5.06% to 5.66% | 6 | +9 bps |
Active listings InvestmentGrade.com tracks with an asking cap rate (stated in the listing, or computed from its stated income and price when no rate is stated), listings last observed October 19, 2026. Asking cap rates are not closed-sale cap rates. The middle half is the range from the 25th to the 75th percentile of listings. The 10-year Treasury yield is 5.24% as of October 1, 2026 (FRED series DGS10). Ratings are the agency ratings in our ratings database for the entity shown, which may be a parent company; the rating type (for example issuer, senior unsecured debt, long-term debt or revenue bond ratings) varies by company and is shown on each tenant page. A rating applies to a lease only if the rated entity signs or guarantees it, so confirm the tenant and any guarantor in the lease. n/a means no verified rating is on file. Not shown because fewer than 3 active listings with a published cap rate were observed: Meijer.
The table shows a Meijer row only when at least three active Meijer listings with a published asking cap rate are in the data InvestmentGrade.com tracks; otherwise the note under the table lists Meijer as not shown, and the grocery and general merchandise peers give pricing context. Asking cap rates are not closed-sale cap rates.
What to Check in a Meijer Lease
- Tenant and guarantor: which entity signs the lease and whether a rated parent guarantees it.
- Term and rent: remaining term, renewal options and the rent schedule; rent increases vary by lease.
- Store performance: sales and rent relative to sales, where available.
- Co-tenancy and center role: whether the grocer anchors the center and what co-tenancy rights other tenants have.
- Re-use: demand from other grocers, discounters, fitness and medical users for the box.
Pros and Cons
| Strengths | Considerations |
|---|---|
| Long-established regional grocer and general merchandiser (founded 1934) | No verified credit rating on file; privately owned |
| Supercenters can anchor surrounding retail | Active Meijer listings in the data we track: 1 |
| Privately owned and family-operated (company website) | Concentrated in six states: Michigan, Ohio, Indiana, Illinois, Kentucky and Wisconsin |
Frequently Asked Questions
Is Meijer investment grade?
We have no verified agency credit rating for Meijer on file, so we do not treat it as investment grade. Meijer is privately owned and family-operated (company website).
When was Meijer founded?
Hendrik Meijer opened the first store, a grocery, in Greenville, Michigan in 1934. The first Thrifty Acres supercenter opened in Grand Rapids in 1962.
Where does Meijer operate?
Michigan, Ohio, Indiana, Illinois, Kentucky and Wisconsin.
Sources: Meijer company history (meijer.com); listing and ratings data from InvestmentGrade.com’s databases.
Meijer Net Lease Property: Buying, Selling and Financing
Buying: We find on-market and off-market Meijer properties, review the lease and the tenant’s credit, and compare pricing with current listings. On the majority of transactions, there is no separate fee to you as the buyer; the listing broker pays a cooperating commission.
Selling: We can prepare an opinion of value from current listings and recent sales and, when it fits your goals, run a confidential sale to private investors, family offices and institutional buyers. See our guide to off-market sales.
Financing: Investment Grade Capital, a service of Investment Grade LLC, matches buyers and owners with lenders for acquisitions and refinancing.
1031 exchanges: Tell us your identification and closing deadlines so we can plan the search around them.
Request an NNN investment consultation or email team@investmentgrade.com.
Related NNN Tenants
Meijer NNN Properties Observed For Sale
1 active Meijer net lease listing observed across public listing sources, most recently Oct 16, 2026. Asking figures as published by the listing party.
| Location | Asking Price | Cap Rate | Building SF | Term Left | |
|---|---|---|---|---|---|
| Livonia, MI | $12,500,000 | 5.40% | 75,466 | n/a | View listing |
Search all 1 observed Meijer listings and the full NNN inventory
Market observations aggregated from listing broker materials; not offerings by Investment Grade Income Property, LP. Buyer representation available on a cooperating commission basis. Information deemed reliable but not guaranteed.
