Sprouts Farmers Market - Tenant Overview


February 21, 2024


Tenant Description

Sprouts Farmers Market, founded in 2002 in Chandler, Arizona, has established itself as a leader in the natural and organic grocery market. With over 400 stores in 23 states as of 2023, Sprouts emphasizes healthful eating and affordable, fresh produce, appealing to a growing segment of health-conscious consumers.

The company's product range focuses on fresh, natural, and organic foods, with an emphasis on produce, which constitutes a significant portion of its sales. This focus reflects Sprouts' commitment to providing healthy food options and distinguishes it in the competitive grocery market. Additionally, Sprouts offers a wide variety of vitamins and supplements, emphasizing its role as a one-stop-shop for health and wellness.

Innovation is a key aspect of Sprouts' strategy, particularly in enhancing customer experience and operational efficiency. This includes a strong emphasis on e-commerce and digital engagement, catering to the needs of a tech-savvy customer base and adapting to changing shopping behaviors.

Sprouts' growth strategy includes expansion through new store openings, with a plan to open 40 new stores and introduce a loyalty program by 2024. This expansion demonstrates Sprouts' commitment to broadening its reach and solidifying its market presence.

Financially, Sprouts has shown resilience and growth, with a reported revenue of $6.72 billion in the twelve months ending October 2023. As a tenant, Sprouts' strong brand identity, focus on health and wellness, and steady financial performance make it an appealing choice in the commercial real estate market. The company's dedication to growth and innovation, coupled with its financial stability, positions Sprouts as a reliable and forward-thinking tenant.

Average Asking Cap Rate


3 mo avg (24 properties)

Typical Investment/Lease

Average Sale Price




$/Square Foot

$350 -$520

Building SF


Approx. Store Count


Lease Term

15 Years



Stock Symbol


Credit Quality



Average Asking Cap Rate Trend





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