Investment Grade
NNN Tenant Profiles
Investment grade analysis and cap rate data for all major NNN net lease tenants. InvestmentGrade.com covers 200+ tenants across QSR, pharmacy, dollar stores, banking, industrial, and all commercial real estate sectors.
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Dillard’s Credit Rating & NNN Cap Rate
20th April 2026 | by the Investment Grade Team
Dillard’s BBB/Baa1 investment grade NNN analysis — upgraded from BB- via dramatic post-COVID balance sheet transformation. ~270 stores, most owned. 6.5–7.5% cap rates. Q1 2026.
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Dick’s Sporting Goods Credit Rating & NNN Cap Rate
20th April 2026 | by the Investment Grade Team
Dick’s Sporting Goods BBB/Baa2 investment grade NNN analysis — upgraded from non-IG post-COVID. ~850 US stores, 6.0–7.0% cap rates, 40,000–50,000 SF format. Q1 2026 investor guide.
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BJ’s Wholesale Club Credit Rating & NNN Cap Rate
20th April 2026 | by the Investment Grade Team
BJ’s Wholesale Club BB+/Ba1 non-investment grade NNN analysis. ~230 Eastern US clubs, 6.25–7.25% cap rates, 85,000–115,000 SF large format. Near-IG upgrade candidate. Q1 2026.
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Big Lots Credit Rating & NNN Status
20th April 2026 | by the Investment Grade Team
Big Lots filed Chapter 11 September 2024. Nexus Capital acquired assets; majority of ~1,400 stores closed. Full guide for NNN investors owning former Big Lots properties, re-tenanting options, and credit warning signs. Q1 2026.
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Bed Bath & Beyond Credit Rating & NNN Status
20th April 2026 | by the Investment Grade Team
Bed Bath & Beyond filed Chapter 11 April 2023 and liquidated all 1,400+ US stores. Full guide for NNN investors who owned properties, re-tenanting options, and the credit warning signs that preceded the collapse.
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Barnes & Noble Credit Rating & NNN Cap Rate
20th April 2026 | by the Investment Grade Team
Barnes & Noble is privately owned by Elliott Advisors — no public credit rating. ~600 US stores. NNN lease analysis, cap rates 7.0–8.5%, and what private ownership means for NNN investors. Q1 2026.
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TCF Bank Credit Rating & NNN Status
20th April 2026 | by the Investment Grade Team
TCF Bank was acquired by Huntington Bancshares in June 2021 — all 478 branches now operate as Huntington Bank. Credit improved to BBB+/A2. Full guide to what this means for NNN investors owning former TCF properties. Q1 2026.
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M&T Bank Credit Rating & NNN Cap Rate
20th April 2026 | by the Investment Grade Team
M&T Bank BBB+/A3 investment grade — S&P outlook upgraded to Stable February 2025. ~1,000 Mid-Atlantic/Northeast branches. Wilmington Trust subsidiary. 4.75–5.75% NNN cap rates. Q1 2026 investor guide.
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Comerica Bank Credit Rating & NNN Cap Rate
20th April 2026 | by the Investment Grade Team
Comerica Bank BBB/A2 investment grade — downgraded by S&P (2023) and Moody’s (2025), stable outlooks. ~400 branches concentrated in Texas, California, Michigan. 5.25–6.25% NNN cap rates. Q1 2026.
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Citibank Credit Rating & NNN Cap Rate
20th April 2026 | by the Investment Grade Team
Citibank N.A. carries A+/Aa3 high-grade ratings — critical distinction from holding company Citigroup BBB+. ~650 US branches in six gateway metros. 4.25–5.25% NNN cap rates. Branch location analysis essential. Q1 2026.
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