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VICTOR, N.Y., April 24, 2025--(BUSINESS WIRE)--Broadstone Net Lease, Inc. (NYSE: BNL) ("Broadstone," "BNL," the "Company," "we," "our," or "us"), today announced it has added one new development with an aggregate estimated total project investment of approximately $78.2 million to its pipeline of build-to-suit development commitments. This marks another significant milestone in growing our committed build-to-suit pipeline while expanding our network of development partners.

Further, we are pleased to announce that this development will be completed with a new relationship between BNL and the Prologis, Inc. (NYSE: PLD) development team. A global supply chain leader, Prologis focuses on high-barrier, high growth markets with a highly successful track record of developing well-located, high quality industrial properties. This track record complements BNL’s industrial-focused investment thesis, as well as our commitment to excellence and long-term value creation.

"We are extremely excited to not only add an additional $78.2 million to our committed pipeline but to also establish a new relationship with Prologis," said John Moragne, BNL’s Chief Executive Officer. "We look forward to bringing this project to completion over the next 15 months while pursuing additional opportunities together in the near future and believe this marks the beginning of an exciting new relationship."

As of the date of this release, we have secured the land and started construction on one additional build-to-suit development as outlined below, notably including a new state-of-the-art distribution warehouse facility for FCA US, LLC, the American subsidiary of multinational automotive company Stellantis, that is expected to deliver in the third quarter of 2026. The following table summarizes developments that are actively under construction and reflects cumulative investments as of April 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 December 31, 2024, BNL’s diversified portfolio consisted of 765 individual net leased commercial properties with 758 properties located in 44 U.S. states and seven properties located in four Canadian provinces across the industrial, retail, and other property types.