Wegmans TENANT OVERVIEW
Updated: September 26, 2016
- Absolute NNN leases
- Strong real estate fundamentals
- Corporate guarantee
- Private company
- Low comparable data
Wegmans is regional supermarket chain that offers a wide array of products as well as in-store dining.
With only 92 stores nationwide, Wegmans are rarely available on the net lease market. They are an investment that is in high demand due to their popular concept and strong customer base. Wegmans tend to be larger than most supermarkets.Their stores run 75,000 to 140,000 square feet in size and feature a long-term lease of 25 years with options.
Wegmans was founded in 1916 in Rochester, NY and has remained a family-owned company throughout its century long history. Wegmans is a regional supermarket chain with 92 stores: 46 in New York, 17 in Pennsylvania, 7 in New Jersey, 10 in Virginia, 8 in Maryland, and 4 in Massachusetts. It is one of the largest private companies in the US with over 47,000 employees and annual sales in 2016 of $8.3 billion.
Wegmans raises the bar on the shopping experience: the best quality; a spectacular abundance of choice; restaurant-quality prepared foods; beautiful stores and displays; and a nearly telepathic level of customer service. Wegmans has the look and feel of a European open-air market along with a Market Cafe that offers take-out and in-store dining.
Wegmans’ commitment to their employees and customers has not gone unnoticed. In 2016, Wegmans ranked #4 on Fortune Magazine’s 2016 list of 100 Best Companies to Work For, and has been on the list every year since it first ran in 1998, topping the list in 2005. Forbes Magazine ranked Wegmans at #5 on their list of America’s Best Employers in 2016. Market Force Information dubbed Wegmans America’s Favorite Supermarket in 2016 based on a consumer study. Wegmans is 30th on the 2017 Supermarket News list of the Top 75 Supermarkets based on sales volume.
With all of these accolades it is no wonder that in 2016 more than 7,800 people contacted Wegmans asking for a store in their community. The future is bright for Wegmans, and their net lease outlook.
Average Property & Lease
|Average Sale Price
||130,000 - 160,000
||10 - 20 Acres
Average Cap Rate Trend
Rates reflect last 12 mos, short and long-term
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