Tenant Expansion Tracker
Who's Opening Stores in Florida Right Now
The fastest way to find fresh, long-lease single-tenant NNN inventory is to follow the tenants actively building. This tracker covers the net-lease brands with active Florida build-to-suit and expansion pipelines — the ones generating new 15–20 year leases that 1031 and passive buyers want. Reviewed June 2026.
18
Tenants tracked
7
Aggressively expanding
15–20 yr
Typical new-build lease
BTS
Build-to-suit = fresh inventory
Why follow the build-to-suit pipeline?
A newly built store comes with a brand-new 15–20 year lease and full rent escalations — the most valuable profile in net lease. Tenants with active expansion programs continuously create this inventory, and buyers who track them get first look at BTS pads before they hit the open market. If you have a 1031 deadline, the new-build pipeline is often the most reliable source of qualifying replacement property.
Expansion Momentum
Aggressive
Opening new Florida stores at a fast clip — the deepest pipeline of fresh long-lease NNN product.
Active
Steadily adding Florida locations through build-to-suit and acquisition.
Steady
Mature Florida footprint with selective new openings and backfill.
Aggressively Expanding
(7)Wawa
Convenience + Fuel
- FL footprint
- ~320 stores (FL = #1 state)
- National plan
- Targeting ~1,800 US stores by 2030 (from ~1,220 today)
- Lease
- 20-yr absolute NNN, 2+ acre fuel pad
Florida is Wawa's single largest market (~26% of the fleet) and a core growth state, with continued new builds statewide on 20-year absolute NNN leases. New stores with full term trade at the tightest end.
Full tenant profile →
Aldi
Grocery
- FL footprint
- ~275+ stores (FL = #1 state)
- National plan
- ~180 new US stores in 2026; goal of 3,200 by 2028
- Lease
- 15–20 yr NNN / ground lease
Fastest-growing US grocer and FL is its #1 state — expanded hard via the Winn-Dixie / Southeastern Grocers acquisition, with stores converting to the Aldi format and a new Baldwin, FL distribution center planned. Aldi often owns, so corporate-leased NNN deals are the scarcer, sought-after profile.
Full tenant profile →
Chick-fil-A
QSR
- FL footprint
- ~250 stores (est.)
- National plan
- 3,400+ NA units; layered multi-year state expansion
- Lease
- Ground lease / absolute NNN, 15–20 yr
Confirmed 2026 Florida openings across Orlando, Mount Dora, Palm Springs and more. Highest per-store sales in QSR drives the tightest cap rates in net lease; corporate-operated, so no franchisee risk.
Full tenant profile →
Dutch Bros Coffee
Coffee
- FL footprint
- New market — early FL stores
- National plan
- 181+ new shops in 2026; goal to surpass 2,000 by 2029
- Lease
- 15-yr absolute NNN, compact drive-thru
Florida is one of Dutch Bros' newest Southeast markets (entered late 2025). Ultra-compact corporate-operated drive-thru pads on 15-year absolute NNN. Tight caps priced for the growth runway.
Full tenant profile →
Take 5 Oil Change
Auto Service
- FL footprint
- Active in multiple FL markets
- National plan
- ~1,300 North American service centers (Driven Brands)
- Lease
- 15-yr absolute NNN, small drive-thru pad
Fast-growing quick-oil-change concept backed by Driven Brands, with new 2026 Florida openings (e.g. first-in-market Green Cove Springs). Small-footprint BTS pads — many delivered via sale-leaseback — keep entry prices low.
Full tenant profile →
Whataburger
QSR
- FL footprint
- ~45 (N. FL) + Tampa Bay re-entry
- National plan
- 1,100+ units; ~8 Tampa Bay-area stores targeted by 2027
- Lease
- 20-yr ground lease / BTS NNN, drive-thru pad
Re-entered the Tampa Bay market in Feb 2026 (first store in Largo) after ~15 years away — the first of roughly eight Tampa-area locations planned by 2027, on top of its established North Florida base. A fresh source of new-build QSR pads.
7 Brew Coffee
Coffee
- FL footprint
- Entering FL — active pipeline
- National plan
- Opened its 777th stand by mid-2026; on pace to pass 1,000 units by year-end
- Lease
- 15-yr absolute NNN, drive-thru kiosk
Fast-growing drive-thru coffee challenger expanding into Florida via multi-unit franchisees, with reported kiosks in Jacksonville/Duval, Tampa and Pensacola. Tiny-footprint pads — an emerging early-entry NNN category.
Actively Expanding
(8)Chipotle
QSR
- FL footprint
- ~298 stores
- National plan
- 350–370 new restaurants in 2026; ~7,000 NA long-term
- Lease
- 15-yr NNN / ground lease
Roughly 40 new Florida locations added since early 2025, ~80% with 'Chipotlane' drive-thru pickup. Corporate-owned — no franchisee credit risk.
Full tenant profile →
Starbucks
Coffee
- FL footprint
- ~900 stores (3rd-largest state)
- National plan
- 150–175 net new US company stores in FY2026
- Lease
- 10–15 yr NNN, drive-thru pad
One of Starbucks' three largest state markets, with new US growth now concentrated in southern/central markets. Smaller-format drive-thru and pickup stores dominate new builds.
Full tenant profile →
Dollar General
Discount
- FL footprint
- ~1,085 stores
- National plan
- ~450 new US stores + 4,250 remodels in 2026
- Lease
- 15-yr absolute NNN
One of Florida's largest store footprints and the most active build-to-suit program in net lease — ongoing rural and small-town openings. The classic entry-level NNN asset.
Full tenant profile →
Tractor Supply
Rural Retail
- FL footprint
- ~105 stores
- National plan
- ~100 new US stores/yr; goal of 3,200 by 2030
- Lease
- 15-yr NNN, 3.5–5 acre pad
A- credit rural-lifestyle retailer adding Florida stores in growing exurban markets with limited competition — including big-box backfills like Port Orange.
Full tenant profile →
Raising Cane's
QSR
- FL footprint
- ~24 stores + Orlando/Miami pipeline
- National plan
- ~100 new restaurants/yr; long-term target of 1,600+ units
- Lease
- 20-yr ground lease / BTS NNN
Premium chicken QSR that opened its 1,000th US restaurant in early 2026 and is growing in Florida, with additional Orlando/Miami locations officially planned. Ground-lease pads trade near the QSR tight end.
First Watch
QSR
- FL footprint
- ~140 stores (est., FL is HQ + #1 market)
- National plan
- 59–63 new restaurants in 2026; 2,200 long-term goal
- Lease
- 10–15 yr NNN, inline / select freestanding
Florida-headquartered daytime breakfast/brunch concept and its largest market, concentrating a high share of its 2026–2027 pipeline in-state. Mostly inline/endcap with select freestanding NNN new builds.
7-Eleven
Convenience + Fuel
- FL footprint
- ~350+ stores
- National plan
- Active US BTS + acquisition program (Seven & i)
- Lease
- 15–20 yr NNN, corner pad
Largest US convenience chain, growing in Florida via BTS and acquisition. Verify corporate vs. franchisee guarantee; Phase I ESA on fuel sites.
Full tenant profile →
O'Reilly Auto Parts
Auto Service
- FL footprint
- ~250+ stores
- National plan
- Active national BTS program (investment-grade)
- Lease
- 15–20 yr absolute NNN
Investment-grade auto-parts retailer with an active Florida BTS program and continued new openings statewide.
Full tenant profile →
Steadyly Expanding
(3)AutoZone
Auto Service
- FL footprint
- ~400+ stores
- National plan
- Continued US BTS in growth markets (investment-grade)
- Lease
- 15–20 yr absolute NNN
Investment-grade, best-in-class operator. Continued Florida BTS in growth markets; tight caps reflect deep institutional demand.
Full tenant profile →
Mavis Tire / Midas
Auto Service
- FL footprint
- ~334 stores (FL = #1 state)
- National plan
- 3,500+ US/Canada locations after the 2025 Midas acquisition
- Lease
- 10–15 yr NNN / NN, sale-leaseback
Florida is Mavis's single largest state. Growth here is mostly roll-up acquisition and conversion rather than ground-up build-to-suit, so fresh single-tenant new-build NNN supply is thinner — most inventory comes via sale-leaseback.
Aspen Dental
Medical
- FL footprint
- Large, established FL presence
- National plan
- 1,400+ locations across 46 states (The Aspen Group)
- Lease
- 10-yr NNN, inline / endcap
Confirmed among the states where Aspen Dental opened new practices in 2025. Note the shorter ~10-year lease term versus the QSR and grocery set — a different duration profile to underwrite.
New-Build Deal Alerts
Want First Look at New-Build NNN?
Tell us which expanding tenants you're targeting. We track Florida build-to-suit pipelines and notify you when a qualifying new store comes available — often before it's publicly marketed.
Store counts and expansion activity shown are approximate, reflect MaxLife Commercial's in-market observation and each tenant's published profile, and are provided as directional market intelligence — not an offering, a guarantee of available inventory, or a representation by any tenant. Tenant expansion plans change. Confirm the specific store, lease term, guarantor, and rent schedule during due diligence before acquiring any asset.