Olive Garden
Olive Garden leases are signed by Darden Restaurants (S&P BBB), making it one of the few investment-grade casual-dining tenants. Large boxes on big parcels mean high rent, but Darden's strong sales and low closure rates make it a core net lease credit.
- US units
- 953
- Q1 FY2027 (Aug 2026; incl. ~6 Canada)
- 3Y net growth
- +7.8%
- vs. FY2022 (May 2022)
- Credit rating
- BBB
- Investment grade
- Typical term
- 15–20 yr
- NNN (corporate, Darden-guaranteed)
- Model
- Corporate
- Subsidiary of Darden Restaurants
Unit count
Olive Garden in the news
All news →- Nation's Restaurant News
Olive Garden net lease FAQ
What is Olive Garden's credit rating?
Olive Garden is rated BBB (Darden), which is investment grade. Check the lease to confirm whether the rated entity is the actual guarantor.
How many Olive Garden locations are there in the US?
Olive Garden reported about 953 US locations as of Q1 FY2027 (Aug 2026; incl. ~6 Canada). That is +7.8% versus 884 in FY2022 (May 2022).
What does a typical Olive Garden net lease look like?
Lease type: NNN (corporate, Darden-guaranteed). Initial term: 15–20 yr. Rent increases: 10% every 5 yrs or 1.5% annually. These are market-typical terms; actual deals vary by vintage, location and whether the lease is corporate or franchisee-signed.
Is Olive Garden corporate or franchised?
Operating model: Corporate (100% company-operated). Olive Garden is part of Darden Restaurants. For net lease investors this determines whether rent is backed by the corporate parent or by a franchisee.