Broadstone REIT acquires Siemens facility for USD36.3m
Broadstone Net Lease (BNL) has completed the acquisition of a Siemens facility located in suburban Chicago. The acquisition is BNL's largest to date in the Chicago area.
The REIT now owns 188 properties in 27 states with a total portfolio value of over USD700 million.
On 11 October, BNL acquired the 382,200 square foot manufacturing and office facility located in Hoffman Estates, IL for USD36.3 million. The recently renovated facility, which sits on 46 acres, is net leased to Siemens through a new 10-year lease, which includes four five-year renewal options and structured annual rent increases.
"We're delighted to have completed this significant sale-leaseback transaction with Siemens, a new marquee tenant for us," says Amy Tait (pictured), CEO of BNL. "This acquisition adds further diversification to the BNL portfolio in a core US real estate market."
Broadstone Net Lease is a private Real Estate Investment Trust (REIT) that focuses on acquiring and holding freestanding, single-tenant, net-leased properties throughout the United States. The REIT's portfolio is comprised of 188 fully tenanted commercial properties, with no lease maturities occurring before the year 2020.