TJ Maxx Credit Rating & NNN Cap Rate

T.J. Maxx is an off-price apparel and home fashions chain operated by The TJX Companies, Inc. (NYSE: TJX), which also runs Marshalls, HomeGoods, Sierra and Homesense in the U.S., Winners and Marshalls in Canada, and TK Maxx in Europe and Australia. For net lease investors, the rated credit is the parent, TJX; confirm in each lease whether TJX is the tenant or a guarantor.

Business Overview

TJX founded T.J. Maxx in 1976 and acquired Marshalls in 1995. Together the two U.S. chains, which TJX reports as its Marmaxx segment, had 2,603 stores at the end of fiscal 2026 and sell brand-name apparel, footwear, accessories, beauty and home merchandise below department store prices. T.J. Maxx and TK Maxx share a format, but they are separate store counts: T.J. Maxx operates in the U.S., while TK Maxx is the name used in the U.K., Ireland, Germany, Poland, Austria, the Netherlands, Spain (from March 2026) and Australia.

TJX leases virtually all of its stores. As of August 1, 2026, its total store count and selling square footage were each up about 3% from a year earlier, and the company has raised its long-term global store target to 7,500 stores.

Credit Profile

No rating for T.J. Maxx has been verified against a primary source (an agency rating action or an issuer filing), so none is shown. If a rating is verified, it will appear here. The BBB‑/Baa3 line defines investment grade. Any rating shown belongs to The TJX Companies, Inc., so confirm in each lease whether the tenant is TJX itself or a subsidiary, and whether TJX guarantees it. Ratings come from our tenant ratings database, which records the source of each rating. For how ratings work, see the investment grade guide.

Source: No agency rating has been verified against a primary source. Ratings checked October 8, 2026.

T.J. Maxx NNN Cap Rates

Live asking cap rates for T.J. Maxx and other off-price retailers appear below when we track at least three of a tenant’s listings with a published asking cap rate:

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 16, 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: T.J. Maxx, Burlington.

The listings we track include 3 active T.J. Maxx listings, and the table shows a median only when at least three have a published asking cap rate. With a small number of listings, one or two properties can move the median, so compare a specific property with recent T.J. Maxx sales and with listings for tenants of similar credit. Also weigh location, remaining lease term, rent level and any early termination or co-tenancy rights.

Lease Structure

According to TJX’s 10‑K for fiscal 2026, most of its leases in the U.S. and Canada are store operating leases, generally with an initial term of ten years and options to extend for one or more five-year periods, and some leases give TJX the option to terminate before the lease expires. Before buying, confirm:

• The remaining term and the dates and rent for each renewal option
• Any early termination (kick-out) right and the sales level or date that triggers it
• Co-tenancy clauses that reduce rent if anchor tenants leave a shopping center
• Which expenses the landlord keeps, such as roof, structure and parking lot; do not assume the lease is absolute NNN
• The tenant entity and any TJX guarantee

Pros and Cons

Comparable Tenants

• Ross Dress for Less (Ross Stores, Inc.; Nasdaq: ROST), rated A-
• Burlington (Burlington Stores, Inc.; NYSE: BURL), rated BB+
• Marshalls and HomeGoods, which are TJX banners; confirm the tenant entity and any TJX guarantee in each lease

Sources: The TJX Companies, Inc. Form 10‑K for the fiscal year ended January 31, 2026 and Form 10‑Q for the quarter ended August 1, 2026.