Broadstone REIT Buys Seven Additional Net-Leased Properties

ROCHESTER, N.Y., Nov. 18, 2010 /PRNewswire/ -- Broadstone Real Estate, LLC today announced that Broadstone Net Lease, Inc. (BNL) recently completed the acquisition of a portfolio of seven triple net-leased properties for a combined purchase price of $14.7MM.

BNL acquired seven convenience store sites located in Pennsylvania, New Jersey and Kentucky. The sites are leased to Lehigh Gas Corporation with an initial lease term of 20 years. The sites are operated under a variety of different brands.  BNL has acquired 18 net-leased properties for a combined purchase price of $46.7MM so far in 2010, and is expected to complete several more transactions before year end.

Broadstone Net Lease, Inc. is a private Real Estate Investment Trust (REIT) that invests in freestanding, single-tenant, absolute net-leased properties located throughout the United States. BNL now holds a diversified portfolio of medical office, restaurant, convenience store, specialty office and distribution centers, including 72 properties located in 19 states.  It is currently targeting acquisitions in the $5 to $15 million range. Additional information can be found at www.BroadstoneRE.com.

SOURCE Broadstone Real Estate, LLC

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