07:18 AM EST, 11/18/2024 (MT Newswires) -- Broadstone Net Lease ( BNL ) said Monday it has reduced the pipeline of build-to-suit development commitments to $246.5 million through Q2 2026 from previous $418.8 million in commitments.

The reduction comes after a prospective tenant for a large build-to-suit transaction decided not to proceed with property development after executive leadership change.

The $246.5 million includes $125.4 million for developments currently under construction and $121.1 million in additional commitments.