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Tractor Supply is a highly sought after brand and has been aggressively expanding in recent years. While they are not currently rated they are universally regarded as strong company and a great tenant. They were previously rated B+ by S&P although they no longer have any rated debt. Their typical lease is 15 years in length with 10% bumps every five years. That lease structure combined with the ability to buy one at close to an 8% cap translates into an excellent yield on a risk adjusted basis.

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