Whole Foods — sometimes mocked as Whole Paycheck for its traditional higher prices — appears to have found that, especially in inflationary times, there is a limit on how much people will pay. The Wall Street Journal recently reported that the Amazon-owned company, in a virtual summit, told its vendors that it wanted to reduce prices to consumers as suppliers' own costs begin to come down.

Given that, as the Journal noted, last year Q4 foot traffic to Whole Foods stores was down 8% year over year, it could be that the company needs to build its customer base. Trepp did an analysis on the loan performance of properties with Whole Foods as a tenant. The firm found some interesting variations based on different overall tenant mixes.

Trepp counts a total of 42 loans across 43 properties with Whole Foods as a tenant at the moment for a total of $1.7 billion. The most frequent co-tenant was one of the brands (T.J. Maxx, Marshalls, or HomeGoods) of discounter T.J. Maxx.