Harris Teeter NNN Property Lease: Pros, Cons, and History

Harris Teeter

Interested in selling your Harris Teeter NNN property or Harris Teeter ground lease property and was wondering what you can get for it in today’s changing market?

Contact us for a complimentary broker opinion of value for your off-market Harris Teeter NNN property for sale or Harris Teeter ground lease property for investment, specifically tailored to support your 1031 exchange requirements. This valuable assessment will provide you with the necessary clarity to make informed decisions regarding the sale of your Harris Teeter NNN property or the inclusion of a Harris Teeter ground lease property in your investment portfolio. As specialists in working with 1031 exchange buyers seeking off-market Harris Teeter properties, we are dedicated to delivering competitive offers with reduced fees to help you maximize your investment returns.

Number of locations

As of 2024, Harris Teeter operates approximately 260+ supermarkets across 7 states and Washington, D.C., with a strong concentration in North Carolina, Virginia, Maryland, South Carolina, Georgia, Florida, and Delaware.

Revenue and income

Harris Teeter is a subsidiary of The Kroger Co., and its standalone revenue and net income figures are not publicly disclosed.
Industry estimates indicate Harris Teeter generates several billion dollars in annual revenue, supported by strong per-store sales volumes and premium grocery positioning.

Future plans

Harris Teeter continues to pursue measured expansion and store reinvestment, including:

Selective new store openings in high-growth Southeast and Mid-Atlantic markets
Remodels and store upgrades focused on fresh foods and prepared meals
Continued investment in digital ordering, pickup, and delivery services
Strengthening private-label offerings and loyalty programs under Kroger’s ecosystem

Corporate vs. franchise

Harris Teeter is not a franchise.
All stores are corporate-owned and operated under Harris Teeter, LLC, which is a wholly owned subsidiary of The Kroger Co.

Additional information Harris Teeter Properties

Harris Teeter was founded in 1960 in Charlotte, North Carolina.
The name comes from the merger of Harris Super Markets and Teeter’s Food Mart.
Harris Teeter is known for upscale grocery offerings, fresh produce, in-store bakeries, pharmacies, fuel centers, and premium private-label brands.
The company is headquartered in Matthews, North Carolina, and operates under Kroger’s multi-banner grocery strategy.

Harris Teeter History

Harris Teeter was formed in 1960 through the merger of Harris Super Markets and Teeter’s Food Mart in North Carolina. From its early beginnings as a regional grocer, the company expanded steadily throughout the Southeast and Mid-Atlantic, establishing a reputation for quality, customer service, and fresh food offerings.

In 2014, Harris Teeter was acquired by The Kroger Co., further strengthening its supply chain, technology, and operational capabilities. Today, Harris Teeter remains one of the most recognized premium grocery brands in its markets, continuing to evolve through store enhancements, digital commerce, and customer-focused innovation.

Why Invest in Ground Lease and NNN Lease of Harris Teeter?

Investing in Harris Teeter ground lease and triple net (NNN) lease properties offers compelling reasons:

1) Harris Teeter NNN Property Investment: Stable income

Harris Teeter’s strong brand recognition and grocery-anchored necessity retail model support reliable, long-term rental income.

2) Harris Teeter NNN Property Investment: Established tenant

As part of The Kroger Co., Harris Teeter benefits from a strong corporate backing, reducing tenant risk and enhancing lease security.

3) Harris Teeter NNN Property Investment: Low management responsibility

Under NNN and ground leases, Harris Teeter typically covers property taxes, insurance, maintenance, and operating expenses.

4) Harris Teeter NNN Property Investment: Favorable lease terms

Leases often include long initial terms with built-in rent escalations, supporting predictable income growth.

5) Harris Teeter NNN Property Investment: Real estate value

Stores are commonly located in high-income, high-traffic suburban trade areas, supporting long-term property value.

Pros and Cons of Harris Teeter Ground Lease and NNN Lease Investment

Pros:

Stable income from a grocery necessity tenant.
Strong corporate backing through The Kroger Co.
Minimal landlord responsibilities under NNN structures.
Long lease terms with predictable cash flow.

Cons:

Lease renewal risk at term expiration.
Grocery industry margin pressures.
Competition from other national grocery chains.
Limited landlord control over property operations.
Exposure to broader real estate and economic cycles.

Thorough due diligence—including location analysis, lease structure review, and tenant strength evaluation—is essential. Consulting with experienced NNN real estate professionals and financial advisors can help determine alignment with investment goals and risk tolerance.

MarketWatch: Harris Teeter