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NLS Data102 tenants

The numbers behind the rent.

Store counts, three-year unit growth and credit, computed from the latest public filings and disclosures we track.

Largest US footprints

  1. 01Dollar General21,148
  2. 02Starbucks16,864
  3. 03McDonald's13,706
  4. 047-Eleven11,700
  5. 05Dunkin'9,999
  6. 06Dollar Tree9,436
  7. 07CVS Pharmacy9,000
  8. 08Walgreens7,900
  9. 09Taco Bell7,784
  10. 10Family Dollar7,700

Fastest growing

Net unit change vs. ~FY2022

  1. 017 Brew+1842.5%
  2. 02Scooter's Coffee+86.0%
  3. 03Dutch Bros+82.6%
  4. 04Take 5 Oil Change+57.9%
  5. 05Five Below+50.9%
  6. 06Wingstop+50.3%
  7. 07AFC Urgent Care+48.1%
  8. 08Ollie's Bargain Outlet+46.6%
  9. 09Shake Shack+46.3%
  10. 10Slim Chickens+45.3%

Shrinking footprints

Net unit change vs. ~FY2022

  1. 01Big Lots−84.6%
  2. 02Hardee's−12.6%
  3. 03Walgreens−11.1%
  4. 04KFC−10.1%
  5. 05Wells Fargo−10.0%
  6. 06Advance Auto Parts−9.9%
  7. 07Denny's−9.3%
  8. 08Checkers & Rally's−8.9%
  9. 09Bank of America−7.5%
  10. 10LA Fitness−7.1%

By category

CategoryTenantsUS unitsInvestment grade
Quick service2180,3131 of 21
Discount retail641,2112 of 6
Coffee630,4881 of 6
Auto1129,4953 of 11
Convenience522,1122 of 5
General retail917,7015 of 9
Pharmacy316,9001 of 3
Fast casual814,6060 of 8
Banks312,8303 of 3
Home improvement410,2863 of 4
Grocery69,6581 of 6
Medical69,0711 of 6
Casual dining77,9451 of 7
Fitness33,5800 of 3
Childcare32,6670 of 3
Rural retail12,4631 of 1

Investment grade = S&P BBB- or better at the issuer (often a parent that does not guarantee franchisee leases). Some counts are approximate; each tenant page lists sources and dates.