- Broadstone Net Lease, Inc. (BNL, Financial) has partnered with Prologis, Inc. (PLD) for a new $78.2 million build-to-suit development.
- This partnership marks a significant expansion in BNL's development pipeline with a completion target over the next 15 months.
- The development includes a state-of-the-art distribution warehouse for FCA US, LLC, part of Stellantis.
Broadstone Net Lease, Inc. (BNL) has announced a new partnership with Prologis, Inc. (PLD) to undertake a $78.2 million build-to-suit development. This collaboration represents a strategic growth step for BNL, adding significant value to its pipeline of committed projects. The development will expand BNL's relationships and network with leading development partners like Prologis, known for their expertise in high-barrier, high-growth markets.
The new project includes a state-of-the-art distribution warehouse facility for FCA US, LLC, the American subsidiary of Stellantis, planned for delivery in the third quarter of 2026. As part of its strategic investment, BNL has secured land and started construction, targeting project stabilization over the next 15 months. This development aligns with BNL's focus on industrial properties, furthering its commitment to long-term value creation.
John Moragne, CEO of BNL, expressed enthusiasm about the new partnership with Prologis, emphasizing the potential for future opportunities and collaborations. As BNL continues to expand its development commitments, the collaboration with Prologis is expected to complement its industrial-focused investment strategy.
As of April 24, 2025, BNL's portfolio encompassed 765 net leased commercial properties across the U.S. and Canada, with the current developments reflecting significant cumulative and projected investments, strengthening its position in the real estate investment trust sector.
