Net Lease Profile: Best Buy
Best Buy Co., Inc. (NYSE: BBY) is an American public company that is a specialty retailer of consumer electronics in the United States, accounting for 19 percent of the market. Headquartered in Richfield, Minnesota, it also operates in Puerto Rico, Mexico, Canada and China.
The company's subsidiaries include CinemaNow, Geek Squad, Magnolia Audio Video, Pacific Sales, and, in Canada operates under both the Best Buy and Future Shop label. Together these companies operate more than 1,400 stores, domestically and internationally with close to 170,000 employees. In addition, the company operates over 100 Best Buy Express Automated Retail stores or "ZoomShops", operated by Zoom Systems, in airports and malls around the U.S.
- Downsizing stores nationwide
- Increasing competition from online retailers
- Recent leadership changes within company makes future less certain
- Strong national brand
- BB+ rating
- Owning Best Buy can provide yield in a “yield starved environment”
Read full profile.
Attend RealShare Conferences to hear from prominent speakers and meet the commercial real estate elite. Check out the schedule of events!