Joint VentureJul 8, 2026, 06:46 AM
Broadstone Net Lease Announces $303M Build-to-Suit Development
AI Summary
Broadstone Net Lease, Inc. announced a new build-to-suit development project, entering into a joint venture to develop an advanced technology facility in Colorado. The estimated total investment is approximately $303 million, with an initial cash yield of 8.5% and a straight-line yield of 11.6%. The triple-net lease with a Fortune 20 investment-grade company has a 15-year initial term with 3% annual rent increases, and the transaction is expected to be accretive to 2027 and 2028 earnings.
Key Highlights
- Broadstone Net Lease announced a new build-to-suit development project.
- Entered a joint venture to develop an advanced technology facility in Colorado.
- Estimated total investment in the project is approximately $303 million.
- The project has a year-one cash yield of approximately 8.5%.
- The straight-line yield is approximately 11.6%.
- The triple-net lease has an initial term of 15 years with 3% annual rent increases.
- The tenant is a Fortune 20 investment-grade company.
- The transaction is expected to be meaningfully accretive to 2027 and 2028 earnings.
Price Impact
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