Hobby Lobby
Family-owned, unrated and debt-light craft retailer that keeps opening stores, often backfilling former big-box space. Large-format leases, frequently with landlord roof/structure duties, need careful CapEx diligence.
- US units
- 1,050
- 2026 (approx.)
- 3Y net growth
- +9.4%
- vs. 2022 (approx.)
- Credit rating
- NR
- No public rating
- Typical term
- 10-15 yr
- NN
- Model
- Corporate
- Private
Unit count
Hobby Lobby in the news
All news →No tagged headlines in the last three weeks.
Hobby Lobby net lease FAQ
What is Hobby Lobby's credit rating?
Hobby Lobby 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 Hobby Lobby locations are there in the US?
Hobby Lobby reported about 1,050 US locations as of 2026 (approx.). That is +9.4% versus 960 in 2022 (approx.).
What does a typical Hobby Lobby net lease look like?
Lease type: NN. Initial term: 10-15 yr. Rent increases: Flat; increases at options. These are market-typical terms; actual deals vary by vintage, location and whether the lease is corporate or franchisee-signed.
Is Hobby Lobby corporate or franchised?
Operating model: Corporate. For net lease investors this determines whether rent is backed by the corporate parent or by a franchisee.