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High-Yield Colorado Tech Facility Joint Venture Could Be A Game Changer For Broadstone Net Lease (BNL)
Earlier this month, Broadstone Net Lease, Inc. announced a joint venture to develop a US$303 million build-to-suit advanced technology facility in Colorado, under a 15-year triple-net lease with 3% annual rent increases and projected first- and second-year cash yields of 8.5% and 9.7%.
An interesting angle is that the joint venture controls land for an entire campus, giving Broadstone future development options, including a potential second powered shell building over which the tenant holds...