Broadstone Net Lease Acquires 382,200 Square Foot Manufacturing-Office Building In Chicago Suburb
Area Development Online News Desk (10/17/2013)
Broadstone Net Lease, a division of Broadstone Real Estate, recently completed the acquisition of a Siemens facility located in suburban Chicago, Illinois. The acquisition is BNL's largest to date in the Chicago area.
As a private Real Estate Investment Trust, Broadstone Net Lease focuses on acquiring and holding freestanding, single-tenant, net-leased properties throughout the United States.
On October 11th, BNL acquired the 382,200 square foot manufacturing and office facility located in Hoffman Estates, Illinois for $36.3 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," said Amy Tait, CEO of BNL. "This acquisition adds further diversification to the BNL portfolio in a core US real estate market."