News

BNL Acquisition: Red Lobster portfolio

Broadstone Net Lease has acquired a portfolio of 18 Red Lobster restaurants with locations in 14 states. The properties were acquired via two separate sale leaseback transactions. Red Lobster is the largest seafood restaurant concept in the world, with 705 restaurants in the U.S., and 43 franchised restaurants in international markets.

  • Closing Date: December 31, 2015
  • Square Footage: 150,187
  • Lease Type: Triple-net
  • Lease Length:  23.5 Years
  • Rent Increases: 2.00% annually

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).