ROCHESTER, N.Y., April 30, 2012 /PRNewswire/ -- Broadstone Real Estate, LLC today announced that Broadstone Net Lease, Inc. (BNL) recently completed the acquisition of The Hess Wine production, warehouse and distribution facility located in Napa County. The facility is temperature controlled and features a wastewater treatment plant.
On April 27, 2012, BNL acquired the 284,000 SF facility located in American Canyon, CA for $27.8 million. The property is net leased to The Hess Collection Winery for an initial 20 year term. The Hess Collection Winery is a leading California winery that produces more than 25 wines under the Hess label and other brands.
"We are very excited to have acquired such a high quality property in this market," said Amy Tait, CEO of BNL. "This acquisition adds further diversification to the BNL portfolio and we are delighted to have Hess as a tenant."
Broadstone Net Lease, Inc. is a private Real Estate Investment Trust (REIT) that invests in freestanding, single-tenant, absolute net-leased properties located throughout the United States. BNL now holds a diversified portfolio of medical office, industrial, restaurant, convenience store and specialty office, including 117 properties located in 23 states. It is currently targeting acquisitions in the $5 to $30 million range. The REIT is managed by Broadstone Real Estate, LLC. Additional information can be found at www.BroadstoneRE.com.
SOURCE Broadstone Real Estate, LLC