Broadstone Net Lease Inc

Broadstone Net Lease, Inc. (NYSE: BNL) is an industrial-focused, diversified net lease real estate investment trust (REIT) that invests in primarily single-tenant commercial real estate properties net leased on a long-term basis to a diversified group of tenants. As of June 30, 2026, BNL's portfolio consisted of 766 individual net leased commercial properties with 759 properties located in 44 U.S. states and seven properties in four Canadian provinces, encompassing approximately 41.7 million rentable square feet occupied by 206 different commercial tenants across 56 industries and 195 brands. The portfolio spans industrial (63.2% of ABR), retail (29.3%), and other property types including office and clinical & surgical (7.5%). The company employs a disciplined investment strategy underpinned by fundamental credit analysis and prudent real estate underwriting, with a growing emphasis on build-to-suit developments. No single tenant accounts for more than 3.8% of annualized base rent, and the portfolio carries a weighted average lease term of 9.3 years with 2.1% weighted average annual rent increases. Top tenant industries include packaged foods & meats (13.1% of ABR), restaurants (12.7%), food distributors (6.5%), and specialty stores (5.1%). The company utilizes diversified debt capital sources including unsecured bank debt, unsecured notes, and secured mortgages with a weighted average debt maturity of 3.9 years. Updated Jul 29, 2026