H‑E‑B
Privately held, unrated Texas grocery leader with strong market share; it owns most of its real estate, so leased single-tenant H-E-B assets are rare. Where available, long terms and dominant trade areas offset the lack of public financials.
- US units
- 380
- 2026 (approx., Texas; ~435 incl. Mexico)
- 3Y net growth
- —
- Prior count n/a
- Credit rating
- NR
- No public rating
- Typical term
- 20 yr
- NNN (rare; mostly owned)
- Model
- Corporate
- Private
H-E-B in the news
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H-E-B net lease FAQ
What is H-E-B's credit rating?
H-E-B 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 H-E-B locations are there in the US?
H-E-B reported about 380 US locations as of 2026 (approx., Texas; ~435 incl. Mexico).
What does a typical H-E-B net lease look like?
Lease type: NNN (rare; mostly owned). Initial term: 20 yr. Rent increases: Increases at options. These are market-typical terms; actual deals vary by vintage, location and whether the lease is corporate or franchisee-signed.
Is H-E-B corporate or franchised?
Operating model: Corporate. For net lease investors this determines whether rent is backed by the corporate parent or by a franchisee.