Tractor Supply completes sale-leaseback transaction
ExchangeRight, a Calif.-based real estate investment firm, has acquired 13 net-leased properties as part of a sale-leaseback transaction with Tractor Supply. The properties collectively span more than 425,000 square feet across Arizona, Florida, Georgia, Indiana, Maryland, Ohio, Pennsylvania, South Carolina and Texas. With this acquisition, ExchangeRight has expanded its portfolio of assets net leased to Tractor Supply to over 100 properties as of October 31, 2024.
"As stewards and asset managers, we have built a long-standing relationship with Tractor Supply over the past decade," said David Fisher, a managing partner at ExchangeRight.
"Tractor Supply provides essential goods and has a strong BBB investment-grade credit rating from S&P, which are the kinds of stable qualities we look for in all tenants of our diversified net-leased offerings. As a result of their financial strength, Tractor Supply has reliably paid 100 percent of their lease obligations to ExchangeRight investors since becoming a tenant. Their consistent performance helps us meet the needs of our investors, and we are grateful to have them as one of the top tenants across our portfolio."
Sam Susanin, ExchangeRight's director of acquisitions, shared that ExchangeRight not only remains confident in the resilience of Tractor Supply as a tenant, but appreciates their partnership in supporting acquisitions for the company's growing portfolio.
"The people at Tractor Supply are consummate professionals and are outstanding to work with," said Susanin. "We greatly value our relationship with Tractor Supply, and we look forward to working closely with them well into the future."
