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Broadstone Net Lease Announces Three Additional Build-to-Suit Developments for $61.4 million

VICTOR, N.Y.--(BUSINESS WIRE)-- Broadstone Net Lease, Inc. (NYSE: BNL) (鈥淏NL鈥�, the 鈥淐ompany鈥�, 鈥渨e鈥�, 鈥渙ur鈥�, or 鈥渦s鈥�), today announced it has added three new development projects to its pipeline of build-to-suit commitments. These projects represent an aggregate estimated total project investment of approximately $61.4 million.

鈥淲e are excited about the continued momentum of our build-to-suit strategy and our differentiated value proposition,鈥� said John Moragne, BNL鈥檚 Chief Executive Officer. 鈥淲e are thrilled to add two new developer relationships and expand on an existing partnership, demonstrating the strength of our network and our robust and resilient pipeline of build-to-suit opportunities. I look forward to sharing more exciting updates about our business on our earnings call next week.鈥�

As of the date of this release, we have secured the land and started construction on three additional build-to-suit developments as outlined below, including a new industrial distribution warehouse facility located in the Dallas MSA for Palmer Distribution Services, Inc. We are also excited to expand our relationship base with two new development partners, the first for a new state-of-the-art industrial distribution warehouse located in California鈥檚 Central Valley for AGCO Corporation and the second for a new grocery store in the Dallas MSA for Sprouts Farmers Market, Inc. (NASDAQ: SFM). We expect all three projects to deliver in the third quarter of 2026. The following table summarizes our in-process and stabilized developments as of July 24, 2025:

About Broadstone Net Lease, Inc.

BNL is an industrial-focused, diversified net lease REIT that invests in primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. Utilizing an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting, as of March 31, 2025, BNL鈥檚 diversified portfolio consisted of 769 individual net leased commercial properties with 762 properties located in 44 U.S. states and seven properties located in four Canadian provinces across the industrial, retail, and other property types.

Forward-Looking Statements

This press release contains 鈥渇orward-looking鈥� statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our plans, strategies, and prospects, both business and financial. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as 鈥渙utlook,鈥� 鈥減otential,鈥� 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥渟hould,鈥� 鈥渃ould,鈥� 鈥渟eeks,鈥� 鈥渁pproximately,鈥� 鈥減rojects,鈥� 鈥減redicts,鈥� 鈥渆xpect,鈥� 鈥渋ntends,鈥� 鈥渁nticipates,鈥� 鈥渆stimates,鈥� 鈥減lans,鈥� 鈥渨ould be,鈥� 鈥渂elieves,鈥� 鈥渃ontinues,鈥� or the negative version of these words or other comparable words. Forward-looking statements, including our 2025 guidance and assumptions, involve known and unknown risks and uncertainties, which may cause BNL鈥檚 actual future results to differ materially from expected results, including, without limitation, risks and uncertainties related to general economic conditions, including but not limited to increases in the rate of inflation and/or interest rates, local real estate conditions, tenant financial health, property investments and acquisitions, and the timing and uncertainty of completing these property investments and acquisitions, and uncertainties regarding future distributions to our stockholders. These and other risks, assumptions, and uncertainties are described in Item 1A 鈥淩isk Factors鈥� of the Company鈥檚 Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which the Company filed with the SEC on February 20, 2025, and the Company鈥檚 Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, which was filed with the SEC on May 1, 2025, both of which you are encouraged to read, and will be available on the SEC鈥檚 website at . Please note that such Risk Factors will be updated, if necessary, through the filing of Quarterly Reports on Form 10-Q. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. The Company assumes no obligation to, and does not currently intend to, update any forward-looking statements after the date of this press release, whether as a result of new information, future events, changes in assumptions, or otherwise.

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Company Contact:

Brent Maedl

Director, Corporate Finance & Investor Relations

[email protected]

585.382.8507

Source: Broadstone Net Lease, Inc.