Broadstone Net Lease, Inc.
For the period ended Oct 28, 2026. Filed Oct 28, 2026.
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Oct 28, 2026 · Filed Oct 28, 2026
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Contents
EX-99.2 · Development Projects
Development Projects
The following tables summarize the Company’s in-process build-to-suit ("BTS") and redevelopment projects as of September 30, 2026:
| Build-to-suit developments | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Property | Projected Rentable Square Feet | Start Date (a) | Target Stabilization Date/Stabilized Date (a) | Lease Term (Years) | Annual Rent Escalations | Estimated Total Project Investment (a) | Cumulative Investment | QTD Q3 2026 Investment | Estimated Remaining Investment | Estimated Cash Capitalization Rate (a) | Estimated Straight-line Yield (a) |
| In-process retail BTS: | |||||||||||
| Academy Sports (Magnolia, TX) | 55 | Feb. 2026 | Nov. 2026 | 15.0 | 0.5% | $12,975 | $8,955 | $4,333 | $4,020 | 7.3% | 7.5% |
| Tesla, Inc. (Las Vegas, NV) | 60 | Jun. 2026 | Nov. 2027 | 15.0 | 3.0% | 39,794 | 19,492 | 301 | 20,302 | 6.7% | 8.3% |
| Hobby Lobby (Manor, TX) | 55 | Aug. 2026 | Jun. 2027 | 15.0 | 0.5% | 10,339 | 1,628 | 1,628 | 8,711 | 7.1% | 7.4% |
| Academy Sports (Manor, TX) | 55 | Aug. 2026 | Jun. 2027 | 15.0 | 0.4% | 12,437 | 2,163 | 2,163 | 10,274 | 7.1% | 7.3% |
| In-process industrial BTS: | |||||||||||
| Southwire (Bremen, GA) | 1,178 | Dec. 2024 | Oct. 2026 | 10.0 | 2.6% | 115,411 | 94,521 | 11,007 | 20,890 | 7.8% | 8.8% |
| Amazon.com Services, LLC (Sarasota, FL) | 230 | Feb. 2026 | May. 2027 | 15.0 | 2.3% | 46,790 | 27,342 | 7,748 | 19,448 | 7.5% | 8.8% |
| Tesla, Inc. (Austin, TX) | 130 | Apr. 2026 | Oct. 2027 | 12.0 | 3.0% | 30,983 | 8,963 | 1,061 | 22,020 | 6.7% | 7.9% |
| Fortune 20 Investment-Grade Company (Colorado) | 112 | Jul. 2026 | Mar. 2027 | 15.0 | 3.0% | 303,000 | 76,247 | 76,247 | 226,753 | 8.5% | 11.6% |
| 1,875 | 13.8 | 2.7% | 571,729 | 239,311 | 104,488 | 332,418 | 8.0% | 10.1% | |||
| Stabilized industrial BTS: | |||||||||||
| Sierra Nevada (Dayton, OH) | 122 | Oct. 2024 | Nov. 2025 | 15.0 | 3.0% | 53,625 | 53,625 | — | — | 7.5% | 9.3% |
| Sierra Nevada (Dayton, OH) | 122 | Oct. 2024 | Mar. 2026 | 15.0 | 3.0% | 52,203 | 52,203 | — | — | 7.6% | 9.4% |
| Fiat Chrysler Automobile (Forsyth, GA) | 422 | Apr. 2025 | May. 2026 | 15.0 | 3.0% | 72,215 | 70,402 | 19,253 | 1,813 | 6.6% | 8.2% |
| AGCO (Visalia, CA) | 115 | Jun. 2025 | Aug. 2026 | 12.0 | 3.5% | 19,010 | 17,360 | 452 | 1,650 | 7.0% | 8.5% |
| Palmer Logistics (Midlothian, TX) (b) | 270 | Jul. 2025 | Aug. 2026 | 12.3 | 3.5% | 31,723 | 31,723 | 4,319 | — | 7.6% | 9.2% |
| Stabilized retail BTS: | |||||||||||
| 7Brew (Jacksonville, FL) | 1 | Jun. 2025 | Nov. 2025 | 15.0 | 1.9% | 2,005 | 2,005 | — | — | 8.0% | 8.8% |
| Sprouts (Bedford, TX) | 22 | Jul. 2025 | Sep. 2026 | 15.0 | 0.9% | 9,533 | 6,566 | 1,572 | 2,967 | 7.2% | 7.7% |
| Hobby Lobby (Granbury, TX) | 55 | Oct. 2025 | Sep. 2026 | 15.0 | 0.7% | 8,129 | 5,307 | 2,597 | 2,822 | 7.1% | 7.4% |
| Academy Sports (Granbury, TX) | 55 | Oct. 2025 | Sep. 2026 | 15.0 | 0.6% | 12,393 | 8,848 | 3,537 | 3,545 | 7.1% | 7.4% |
| Academy Sports (Waco, TX) | 68 | Dec. 2025 | Sep. 2026 | 15.0 | 0.6% | 14,488 | 9,911 | 850 | 4,577 | 7.2% | 7.5% |
| Total / weighted average | 3,127 | 14.0 | 2.7% | $847,053 | $497,261 | $137,068 | $349,792 | 7.7% | 9.6% | ||
| Redevelopment projects | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Property | Projected Rentable Square Feet | Start Date (a) | Target Stabilization Date (a) | % Leased (c) | Lease Term (Years) (c) | Annual Rent Escalations (c) | Estimated Total Project Investment (a) | Cumulative Investment | QTD Q3 2026 Investment | Estimated Remaining Investment | Original Property ABR (a) | Estimated Stabilized ABR (a) |
| In-process industrial redevelopment: | ||||||||||||
| 1501 Mittel (Chicago, IL MSA) | 156 | Apr. 2026 | Aug. 2027 | — | — | — | $17,906 | $3,685 | $580 | $14,221 | $1,409 | $2,733 |
| 2400 West Central Rd (Chicago, IL MSA) | 432 | Jul. 2026 | Jul. 2028 | — | — | — | 28,443 | 10,234 | — | 18,209 | 3,319 | 3,297 |
| 588 | $46,349 | $13,919 | $580 | $32,430 | ||||||||
(a)Refer to definitions and explanations appearing at the end of this supplemental document.
(b)Development represents our common and preferred equity investments in a consolidated joint venture, and excludes amounts attributed to non-controlling interest holders.
(c)Redevelopment projects without executed leases are excluded from these metrics; we expect to include once a tenant is secured and a lease is in place.
| BROADSTONE NET LEASE, INC. | www.broadstone.com | © 2026 Broadstone Net Lease, LLC. All rights reserved. | 20 |
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The following table summarizes the timing of the Company’s construction investment, quarterly rent, and ABR for in-process and stabilized developments as of September 30, 2026:
(a)Represents aggregated Estimated Total Project Investment for all projects based on estimated timeline of investment dollars on a quarterly basis. Timing of investment amounts are expected to vary based on actual construction at the properties and will be updated if there are any significant changes to expected costs from quarter to quarter.
(b)Amounts calculated based on aggregate of each project’s estimated rent upon stabilization in accordance with the timing of Target Stabilization Date. We expect to update our timing estimates on a quarterly basis.
| BROADSTONE NET LEASE, INC. | www.broadstone.com | © 2026 Broadstone Net Lease, LLC. All rights reserved. | 21 |
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.