Broadstone Net Lease has added a new development project to its pipeline of build-to-suit (BTS) commitments, entering into a joint venture to develop an advanced technology facility in Colorado.
Broadstone Net Lease’s estimated total investment in the project is approximately $303 million, with a year-one cash yield of approximately 8.5 percent, a year-two cash yield of approximately 9.7 percent and a straight-line yield of approximately 11.6 percent. The triple-net lease has an initial term of 15 years, with two five-year extension options and annual rent increases of 3 percent.
“This transaction represents a landmark moment for Broadstone Net Lease and is a powerful validation of our build-to-suit development strategy,” said John Moragne, CEO of Broadstone Net Lease. “Securing a long-term, triple-net lease with one of the world’s premier companies at an initial cash yield of 8.5 percent and a straight-line yield of 11.6 percent is an exceptional outcome tha
