News

BNL Acquisition: LabCorp

Broadstone Net Lease has acquired one property in Tampa, Florida tenanted by LabCorp, a global independent clinical laboratory company that offers a wide range of clinical laboratory tests, early to late stage drug development services, and procedures. The property is strategically positioned within minutes of Tampa International Airport, and was acquired via lease assumption. 

  • Closing Date: June 29, 2015
  • Square Footage: 94,686
  • Lease Type: Triple-net
  • Lease Length:  10 Years
  • Rent Increases: 2.25% Annually
  • Broker/source: Jorge Portela, HFF

Note: The brand listed may not represent BNL’s actual tenant but a lease guarantor, tenant franchise or a D/B/A (doing business as).

News

BNL Acquisition: Wendy’s

Broadstone Net Lease has acquired one Wendy’s property in Oklahoma City, which will be added to an existing master lease held with WendPartners. The property was acquired via a sale-leaseback transaction. BNL currently owns 35 Wendy’s locations across 10 states. 

  • Closing Date: June 26, 2015
  • Square Footage: 2,782
  • Lease Type: Triple-net
  • Lease Length: 19 Years
  • Rent Increases: 1.70% Annually
  • Broker/source: Lewis E. Topper, WendPartners

Note: The brand listed may not represent BNL’s actual tenant but a lease guarantor, tenant franchise or a D/B/A (doing business as).

News

BNL Acquisition: Cott Corporation

Broadstone Net Lease has acquired a portfolio of five properties tenanted by Cott Corporation, one of the world’s largest private-label beverage producers. Cott’s business lines include robust residential and office distribution of bottled water and coffee. The five properties are located in Pennsylvania, South Carolina, Texas, Georgia, and Missouri, and are mission-critical to Cott’s processing and distribution operations. The properties were acquired via a sale-leaseback transaction. Continue reading

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BNL Acquisition: Celerion, Inc.

Broadstone Net Lease has acquired two properties tenanted by Celerion, Inc., one of the world’s largest clinical research organizations. Celerion conducts comprehensive clinical pharmacology studies, and focuses on complex trials for first-in-human and proof-to-concept studies that support innovative drug development. The two properties are located in Arizona and Nebraska, and were acquired via a sale-leaseback transaction. Continue reading

News

BNL Acquisition: Taco Bell portfolio

Broadstone Net Lease has acquired a portfolio of 11 Taco Bell properties in the Pacific Northwest in exchange for approximately $22 million in BNL Operating Partnership Units through an UPREIT transaction, (where “UPREIT” stands for Umbrella Partnership REIT.) UPREIT transactions provide a tax deferred exit strategy for owners of real estate who would otherwise recognize a significant taxable gain in a cash sale of a highly appreciated property with a low tax basis. Continue reading