Family Dollar
Dollar Tree sold Family Dollar to Brigade Capital and Macellum for ~$1.0B in July 2025, so leases no longer carry the investment-grade Dollar Tree guarantee unless the original lease explicitly survives the sale; the new private owner is unrated and closed roughly 350 stores in its first ~10 months. Underwrite on store-level performance, guarantor language, and re-tenanting cost.
- US units
- 7,700
- May 2026 (approx.)
- 3Y net growth
- −4.9%
- vs. FY2022 (approx.)
- Credit rating
- NR
- No public rating
- Typical term
- 5-10 yr
- NN (roof & structure landlord)
- Model
- Corporate
- Private equity
Unit count
Family Dollar in the news
All news →- Connect CRE
- costar.com
- Shopping Center Business
- JLL
Family Dollar net lease FAQ
What is Family Dollar's credit rating?
Family Dollar does not carry a public S&P issuer credit rating (NR). Landlords underwrite it on unit-level performance, the guarantor named in the lease and, for public companies, reported financials.
How many Family Dollar locations are there in the US?
Family Dollar reported about 7,700 US locations as of May 2026 (approx.). That is −4.9% versus 8,100 in FY2022 (approx.).
What does a typical Family Dollar net lease look like?
Lease type: NN (roof & structure landlord). Initial term: 5-10 yr. Rent increases: Fixed increases at options. These are market-typical terms; actual deals vary by vintage, location and whether the lease is corporate or franchisee-signed.
Is Family Dollar corporate or franchised?
Operating model: Corporate. Family Dollar is part of Brigade Capital Management & Macellum Capital Management. For net lease investors this determines whether rent is backed by the corporate parent or by a franchisee.