Broadstone Net Lease Reports Lower Build-to-Suit Development Commitments-March 2024-www.financetom.com

Broadstone Net Lease Reports Lower Build-to-Suit Development Commitments

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Broadstone Net Lease Reports Lower Build-to-Suit Development Commitments

Nov 18, 2024 6:21 AM

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.

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