Broadstone Net Lease recently completed the acquisition of a Siemens facility located in suburban Chicago. On Oct. 11, BNL acquired the 382,200-square-foot manufacturing and office facility located at 2501 N. Barrington Road in Hoffman Estates 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.
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 more than $700 million.
“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 U.S. real estate market.”
Broadstone Net Lease is a private real estate investment trust 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.
