Nowadays, NNN Reit has become a topic of increasing interest in society. With the advancement of technology and globalization, NNN Reit has acquired relevant importance in different areas, from the economy to culture. In this article, we will explore the impact of NNN Reit on our lives and how it has evolved over time. From its origins to its relevance today, we will examine the various aspects that make NNN Reit so relevant today. In addition, we will analyze its influence in different sectors and how it has transformed the way we relate to the world around us.
Formerly | National Retail Properties, Inc. |
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Company type | Public company |
Industry | Real estate investment trust |
Founded | October 1984 | (as Golden Corral Realty Corp.)
Headquarters | Orlando, Florida, U.S. |
Key people | Julian E. Whitehurst (CEO & President) Don DeFosset (Chairman) Kevin B. Habicht (CFO) |
Products | Freestanding retail properties |
Revenue | US$0.674 billion (2019) |
US$0.299 billion (2019) | |
Total assets | US$8.500 billion (2019) |
Total equity | US$4.332 billion (2019) |
Number of employees | 70 (2020) |
Website | www |
Footnotes / references |
NNN Reit, Inc. is a real estate investment trust that invests primarily in high-quality properties that are subject to long-term NNN leases. It is organized in Maryland with its principal office in Orlando, Florida.
As of December 31, 2019, the company owned 3,118 properties containing 32.5 million square feet, 17.6% of the company's revenue was from properties in Texas, and 8.8% of the company's revenue was from properties in Florida.
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 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 CEO & President of the company.