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Broadstone Net Lease acquires properties for $54.6 million

Broadstone Net Lease Inc. on Wednesday announced the acquisition of two properties for a combined purchase price of $54.6 million.

The properties are tenanted by Nationwide Mutual Insurance Co. though a sale leaseback transaction.

The private real estate investment trust—managed by Broadstone Real Estate LLC—now owns 348 properties in 34 states.

The two properties, which total some 385,000 square feet on 65 acres, are located in Harrisburg and Harleysville, Pa., and are tenanted under one master lease for an initial term of 12 years.

The properties, which have undergone renovations in recent years, support numerous Nationwide business units, including underwriting, claims processing, and information technology, Rochester-based Broadstone reported.

Amy Tait, Broadstone Real Estate chairman and CEO, said the acquisition further bolsters the credit strength of Broadstone Net Lease’s portfolio.

(c) 2016 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail rbj@rbj.net.


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