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Broadstone Net Lease Acquires 382,200 Square Foot Manufacturing-Office Building In Chicago Suburb

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."

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