Printer Friendly

COMMERCIAL NET LEASE REALTY, INC. COMPLETES OFFERING OF 3,250,000 SHARES OF COMMON STOCK

 ORLANDO, Fla., Oct. 29 /PRNewswire/ -- Commercial Net Lease Realty, Inc. (AMEX: NNN) (formerly CNL Realty Investors, Inc.), completed a public offering of 3,250,000 shares of common stock at $14.25 per share. Legg Mason Wood Walker Incorporated, J. C. Bradford & Co., and Raymond James & Associates, Inc. co-managed the offering.
 Net offering proceeds of approximately $43.3 million will primarily be used to acquire a specified portfolio of freestanding restaurant and retail properties including properties leased to Eckerd, Food Lion, Office Max, Best Buy, Computer City, Burger King and IHOP. James M. Seneff Jr., chairman of the board, stated, "This continues the company's strategy to expand and diversify its portfolio with retail tenants who are leaders in their respective industries."
 Commercial Net Lease Realty, and equity real estate investment trust, invests in high-quality freestanding retail properties subject to long-term, net leases with national and major restaurant and retail businesses. Upon acquisition of the properties specified in the public offering, the company is expected to own a total of 100 properties in 20 states.
 -0- 10/29/93
 /CONTACT: Robert A. Bourne, president, Commercial Net Lease Realty, 407-422-1574/
 (NNN)


CO: Commercial Net Lease Realty, Inc. ST: Florida IN: SU: OFR

AW-JB -- FL002 -- 8435 10/29/93 10:47 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 29, 1993
Words:209
Previous Article:ELECTROMEDICS RELEASES THIRD QUARTER 1993 EARNINGS
Next Article:AMERICA WEST AIRLINES TO MAKE SIGNIFICANT ADDITIONS TO ROUTE SYSTEM
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters