Broadstone Development Pipeline Expansion
Broadstone Net Lease Adds $23 Million to Build-to-Suit Development Pipeline
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Broadstone Net Lease (NYSE: BNL) is adding $23 million to its pipeline of new building projects. The real estate company will construct properties for Hobby Lobby and Academy Sports, with both projects expected to open in the second quarter of 2027, according to AP News.
BNL owns 766 commercial properties across the United States and Canada. The company specializes in long-term leases with major retailers and businesses, making it a net lease real estate investment trust, or REIT.Market Screener reported the projects were sourced directly off the market.
What Broadstone Net Lease Does
BNL is a real estate investment trust focused on industrial properties and commercial spaces. The company buys buildings and leases them long-term to retailers, restaurants, and other businesses. As of mid-2026, BNL owned 759 properties in 44 U.S. states and seven properties in four Canadian provinces, according to Yahoo Finance.
Two Major Retailers Drive New Construction
Hobby Lobby and Academy Sports are the tenants for this $23 million expansion. Market Screener noted both deals came directly from the companies themselves rather than through typical market listings. This means BNL negotiated with the retailers without public bidding.
Buildings Ready by Mid-2027
The two new properties are scheduled to be completed and operational by the second quarter of 2027. This timeline gives BNL roughly 18 months to construct the buildings and prepare them for the retailers' opening. Once finished, both locations will generate steady rental income for the company.
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