National Retail Properties, Inc. is a real estate investment trust that invests in shopping centers that are subject to NNN Leases.
As of December 31, 2016, the company owned 2,535 properties containing 27,204,000 square feet.
As of December 31, 2016, 18.4% of the company's revenue was from properties in Texas and 9.1% of the company's revenue was from properties in Florida.
Video National Retail Properties
History
The company was formed in 1984 as Golden Corral Realty Corp. as a way for the owners of the Golden Corral restaurant chain to allow employees to invest in the company.
In 1993, the company split from Golden Corral and changed its name to Commercial Net Lease Realty. The company also moved its listing to the New York Stock Exchange.
On January 1, 1998, the company merged with its former external adviser, CNL Realty Advisor Inc. and became a self-advised, self-managed REIT.
In February 2004, Craig Macnab was named chief executive officer of the company. In May 2004, he was also named president.
In 2005, the company acquired National Properties Corporation for $61 million.
In May 2006, the company changed its name to National Retail Properties, Inc.
In 2012, the company acquired a property in Jacksonville, Florida.
In 2014, the company acquired a Chuck E. Cheese restaurant in Cordova, Tennessee for $4.2 million.
In 2015, the company acquired 19 Frisch's restaurants in the Cincinnati, Ohio area for $47 million in a leaseback transaction.
In April 2017, Craig Macnab retired and Jay Whitehurst became president and chief executive officer of the company.
Maps National Retail Properties
References
External links
Source of the article : Wikipedia
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