Whole Foods

Whole Foods Market has ±15 years of remaining lease term through 2032 with contractual rental rate increases every five years, the next of which occurs in November 2017. The rental rate increases are based on the lesser of the CPI over the prior five year period or 10% providing meaningful revenue growth throughout the term of the lease. Single-tenant net leased Whole Foods stores are seldom offered to the market. Whole Foods Market (Nasdaq: WFM) is the world's leading natural and organic foods supermarket and the 12th largest food retailer. The company operates 464 stores in the US. Canada and the United Kingdom averaging over 8 million customer visits each week. Corporately, Whole Foods' overall sales have grown by ±74% since 2010 to a record $157 billion (Up 2.2% year-over-year) in 2016. The Company's stores average $883 per square foot, which is the highest of any public food retailer in the US The Property features a long-term net lease backed by a stable and growing publicly traded investment grade tenant (BBB- credit rating by S&P), providing investors with stability and surety of income.