Tenant Intelligence | Silber Investment Properties

McDonalds

The gold-standard QSR NNN — investment-grade, with the corporation as direct rent payer at most franchisee sites.

Wendy’s

Third-largest US burger chain, ~95% franchisee-operated, in a soft comp cycle — underwrite the franchisee guarantor.

CVS

Largest US pharmacy chain, ~9,000 stores, investment-grade BBB, corporate-guaranteed with no franchise risk.

Starbucks is the dominant US coffee brand with ~17,000 domestic locations and an investment-grade BBB+/Baa1 credit profile. The NNN product is the freestanding drive-thru — corporate-leased, 10-year primary terms, among the tightest cap rates in net lease at 5.00-5.75%.

Walgreens

The highest-risk major pharmacy NNN after Sycamore Partners' Aug 2025 $10B take-private split the company into five entities. Widest pharmacy caps available; verify which post-split entity guarantees your lease.

Tractor Supply

Tractor Supply is the largest rural lifestyle retailer in the US with 2,435 stores and a BBB investment-grade rating from S&P. It leases roughly 97% of its locations and is opening 100 new stores in 2026 against a long-term target of 3,000. Indicative cap rates 6.00-7.10% depending on remaining term.

WaWa

The most aggressive c-store growth story in NNN — employee/Wood-family owned, one of the few net-positive expansion tenants at scale.

Taco Bell

Yum!'s strongest US brand — best-in-QSR comps; most product is franchisee-guaranteed.

Sherwin-Williams

Sherwin-Williams (NYSE: SHW) runs ~4,700 paint stores serving professional contractors, backed by a BBB investment-grade credit. Small-format, corporate-guaranteed, and steadily growing — a clean specialty-retail NNN tenant. Indicative cap rates 5.75-6.75%.

7-Eleven

US subsidiary of Seven & i Holdings (Tokyo: 3382) — the largest North American convenience operator with ~12,000 US stores. Investment-grade A-/Baa2; the corporate guarantee from 7-Eleven, Inc. applies to every lease regardless of operator.