National Vision Holdings, Inc. 10-K

Item 2. Properties We lease all of our America’s Best and Eyeglass World retail stores. Our leases generally have noncancelable lease terms of between five and 10 years, with an option to renew for additional terms of one to 10 years or more. In recent years, we have entered into more leases with 10-year initial terms with renewal options. Most leases for these retail stores provide for a minimum rent, typically with escalating rent increases. In certain circumstances we pay a percentage rent based upon sales after certain minimum thresholds are achieved. These leases generally require us to pay insurance, utilities, real estate taxes and common area maintenance expenses. We occupy our Host locations through master agreements with our Host partners, which contain standard terms and conditions, such as fixed and percentage-based payments. 42 Table of Contents A summary of our stores by location as of December 28, 2024 is shown below. State America’s Best Eyeglass World Other State America’s Best Eyeglass World Other AK — — 7 MO 27 1 1 AL 25 1 3 MS — — 2 AR — — 1 NC 26 — 2 AZ 31 11 2 NE 6 1 1 CA 94 — 3 NJ 44 — 1 CO 28 7 3 NM — 2 3 CT 10 — — NV — 4 1 FL 101 44 2 NY 36 — 1 GA 50 4 5 OH 46 1 1 IA 7 1 — OR 11 — 9 ID 7 — — PA 50 5 — IL 60 2 — SC 23 2 1 IN 18 11 — TN 28 6 — KS — 2 2 TX 131 6 5 KY 5 1 2 UT 14 5 1 LA 15 — 1 VA 37 — 1 MD 24 — 1 WA 20 1 19 MI 38 4 — WI 10 — — MN 13 — — WY 1 — — ___________ Note: ‘Other’ includes Vista Optical in Fred Meyer stores and on military bases. There is one Vista Optical location in Puerto Rico. We lease laboratories in Georgia, Texas and Utah and distribution centers in Georgia and Ohio, and we own our laboratory in Minnesota. We operated our distribution center in Ohio through June 2024 and have subsequently subleased the property to a third party. Our corporate offices are located in leased space in Duluth, Georgia. In addition, we lease office space for our FirstSight corporate office in Upland, California.