Project UpdateJun 11, 2026, 04:52 PM
Broadstone Net Lease Adds $39.8M Tesla Build-to-Suit Development
AI Summary
Broadstone Net Lease announced the addition of a new build-to-suit development for Tesla, Inc. in Las Vegas, Nevada. The project has an estimated total investment of $39.8 million and is expected to commence rent in the fourth quarter of 2027. This development expands the company's committed pipeline and features a 15-year lease term with 3.0% annual rent escalations, alongside a 6.7% cash capitalization rate.
Key Highlights
- Added one build-to-suit development for Tesla, Inc.
- Estimated total project investment of $39.8 million.
- New facility located in Las Vegas, Nevada.
- Expected rent commencement in the fourth quarter of 2027.
- Lease term of 15.0 years with 3.0% annual rent escalations.
- Cash capitalization rate of 6.7% and straight-line yield of 8.3%.
- Cumulative investment of $19.19 million.
Price Impact
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