Tractor Supply Co.

Investment-Grade Corporate Credit
• Tractor Supply Company (NASDAQ: TSCO) carries investment-grade credit ratings of Baa1 from Moody’s and BBB from S&P, providing investors with the strength of one of the nation’s leading specialty retailers.
$15.5 Billion National Retailer | 2,400+ Locations
• Tractor Supply generated a record $15.52 billion in FY2025 net sales and operates more than 2,400 Tractor Supply stores nationwide, establishing significant scale and brand recognition.
Aggressive & Disciplined National Expansion
• Tractor Supply opened 99 new stores in 2025 and continued its expansion in 2026, demonstrating continued confidence in its store-level strategy and long-term growth platform.
Recession-Resilient, E-Commerce-Resistant Retail Category
• TSC serves need-based farm, ranch, pet, livestock, hardware and outdoor-living customers—product categories that benefit from recurring demand and significant in-store purchasing.
Long-Term Lease with Embedded Rental Growth
• 15-year initial term plus four 5-year options with 5% rent increases every five years, providing contractual income growth and a higher overall return.
Brand-New 2026 Build-to-Suit Construction
• Newly constructed Tractor Supply prototype providing investors with a brand-new building and full 15-year initial lease term, minimizing near-term capital requirements, and providing passive cash flow.
High-Growth Southwest DFW Location |177,000+ Residents
• Strategically positioned within the rapidly expanding southwest Fort Worth/Crowley trade area, with approximately 177,000 residents within five miles and continued residential development surrounding the Property.
Nation’s Fourth-Largest Metro
• The Dallas-Fort Worth-Arlington MSA is home to approximately 8.48 million residents as of 2025, ranking as the fourth-largest metro in the U.S.
High-Growth Suburb
• Crowley (ZIP 76036) had an estimated population of 19,532 as of the most recent Census data, with a 2026 projected population of approximately 21,603 — reflecting 26.5% growth between 2019 and 2024, one of the strongest growth rates of any established Tarrant County suburb.
Affluent Trade Area | $106,000+ Average Household Income
• Average household income exceeds $106,000 within five miles, providing Tractor Supply with a sizable and affluent customer base.