{"id":1004350187,"date":"2019-09-05T05:42:52","date_gmt":"2019-09-05T13:42:52","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004350187"},"modified":"2019-09-05T07:02:49","modified_gmt":"2019-09-05T15:02:49","slug":"broadstone-net-lease-buys-736m-industrial-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/broadstone-net-lease-buys-736m-industrial-portfolio\/","title":{"rendered":"Broadstone Net Lease Buys $736M Industrial Portfolio"},"content":{"rendered":"
\"\"<\/a>

Image via Pixabay<\/em><\/p><\/div>\n

Real estate investment trust Broadstone Net Lease Inc. has chalked up its biggest deal to date by acquiring a portfolio of 23 fully leased industrial and office or flex assets for about $735.7 million. The properties, totaling 6.9 million rentable square feet of operational space, are scattered across 14 U.S. states and British Columbia, Canada.<\/p>\n

The bundle of properties acquired by the REIT includes warehouse, distribution, manufacturing, cold storage and flex assets, and is occupied by 19 different tenants. The portfolio has a weighted average remaining lease term of about 11.5 years and weighted average annual rent increases of approximately 2.2 percent.<\/p>\n

The identity of the seller and the properties were not made public and a representative of Broadstone Net Lease told Commercial Property Executive<\/em> that the company was unable to reveal this information. The REIT invests in freestanding, single-tenant, net leased commercial properties throughout the U.S.<\/p>\n

REIT grows platform to 27 MSF<\/h2>\n

The latest acquisition boosts Broadstone Net Lease\u2019s total portfolio to 668 individual net leased properties spanning 27.2 million square feet, with industrial assets comprising around 41 percent of the total on a rent basis. Upon the deal\u2019s closing, the REIT will have bagged $983 million in transactions year-to-date, and will have a total investment in rental property of more than $4.4 billion.<\/p>\n

This has been a big week for industrial portfolio sales. TA Realty, on behalf of one of its closed-end funds, has just sold a $1 billion<\/a>, 8.3 million-square-foot logistics portfolio to two separate buyers. AEW Capital Management snapped up 28 Texas properties, while funds managed by The Blackstone Group acquired 68 assets across 10 metros in the U.S.<\/p>\n","protected":false},"excerpt":{"rendered":"

The REIT has snapped up 23 fully leased assets totaling 6.9 million rentable square feet across 14 states and Canada.<\/p>\n","protected":false},"author":744,"featured_media":1004506753,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21748,16,21783,23891,21742],"tags":[46868],"class_list":["post-1004350187","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-industrial","category-international","category-investment","category-national","category-latest","tag-broadstone-net-lease"],"acf":[],"yoast_head":"\nBroadstone Net Lease Buys $736M Industrial Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/broadstone-net-lease-buys-736m-industrial-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Broadstone Net Lease Buys $736M Industrial Portfolio\" \/>\n<meta property=\"og:description\" content=\"The REIT has snapped up 23 fully leased assets totaling 6.9 million rentable square feet across 14 states and Canada.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/broadstone-net-lease-buys-736m-industrial-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-05T13:42:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-09-05T15:02:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/industrial-news-09.-Image-via-Pixabay.com_-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Greg Isaacson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/broadstone-net-lease-buys-736m-industrial-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/broadstone-net-lease-buys-736m-industrial-portfolio\/\",\"name\":\"Broadstone Net Lease Buys $736M Industrial Portfolio - 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