Burlington
Off-price retailer rated BB+ by S&P that is adding ~100 net stores a year toward a 2,000-store target, often in backfilled big-box space. Leases are mostly 10-year NN in shopping centers.
- US units
- 1,287
- Q2 2026
- 3Y net growth
- +38.8%
- vs. FY2022
- Credit rating
- BB+
- Sub-investment grade
- Typical term
- 10 yr
- NN
- Model
- Corporate
- Public
Unit count
Burlington in the news
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Burlington net lease FAQ
What is Burlington's credit rating?
Burlington is rated BB+, which is below investment grade. Check the lease to confirm whether the rated entity is the actual guarantor.
How many Burlington locations are there in the US?
Burlington reported about 1,287 US locations as of Q2 2026. That is +38.8% versus 927 in FY2022.
What does a typical Burlington net lease look like?
Lease type: NN. Initial term: 10 yr. Rent increases: 5-10% at options. These are market-typical terms; actual deals vary by vintage, location and whether the lease is corporate or franchisee-signed.
Is Burlington corporate or franchised?
Operating model: Corporate. Burlington is part of Burlington Stores. For net lease investors this determines whether rent is backed by the corporate parent or by a franchisee.