Mattress Firm Tenant Overview

Tenant Description

Mattress Firm has grown to be America’s largest mattress specialty retailer, with neighborhood stores in 49 states across the country.

Mattress Firm has aggressively expanded in recent years. Their freestanding stores were one of the most highly demanded net lease investments. Mattress Firm properties are well located on main commercial thoroughfares, typically feature a 4,000 - 10,000 square foot building, and are usually situated on 0.80 acres of land. Older Mattress Firm net leased properties tend to have a 12-year primary term NN lease, while newer sites usually offer a NNN lease. The lease terms typically call for 10% increases in rent every five (5) years.

Mattress Firm's retail locations are either company-owned and operated or operated by corporately guaranteed franchisees. Almost all storefronts occupy freestanding buildings or end cap retail spaces. Their unique combination of merchandising breadth, distinctive store concepts and market integration has translated into a differentiated customer shopping experience.

Founded in Houston, TX in 1986, Mattress Firm has the largest geographic footprint in the US among multi-brand mattress specialty retailers. Mattress Firm not only provides sleep solutions, but opportunities in hundreds of communities. Mattress Firm has more than 2,500 corporate and franchised stores across 49 states. In September 2016, Steinhoff International Holdings acquired Mattress Firm. In October 2018, Mattress Firm filed for Chapter 11 bankruptcy protection and announced plans to exit 700 stores. In November 2018, Mattress Firm announced that it has successfully completed its financial restructuring and emerged from Chapter 11.