News

BNL Acquisition: Pactiv, LLC

Broadstone Net Lease has acquired one property in Kinston, North Carolina tenanted by Pactiv, LLC. Headquartered in Lake Forest, Illinois, Pactiv is the world’s largest manufacturer and distributor of food packaging and food service products, serving every major food service retailer and distributor in the US. Pactiv’s production capabilities include custom and stock foam, plastic, aluminum, pressed-paperboard, PE-coated board, and molded-fiber packaging. In 2010, Pactiv was acquired by the consumer products division of Reynolds Group Holdings, Ltd. The Kinston property serves as a distribution and warehousing facility, and was acquired via lease assumption. 

  • Closing Date: September 16, 2015
  • Square Footage: 255,800
  • Lease Type: Triple-net
  • Lease Length: 12 Years
  • Rent Increases: 2.00% Annually
  • Broker/source: Britton Burdette, Stan Johnson Co.

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).