Broadstone Net Lease enters joint venture to develop $303M advanced technology facility in Colorado

Type: Development · Technology: Data Center · Country: United States · Value: $303M · Announced: 2026-07-08

Broadstone Net Lease entered a joint venture to develop an advanced technology facility in Colorado with an estimated total investment of $303 million. The project will feature a triple-net lease with an initial term of 15 years, including two five-year extension options and annual rent increases of 3 percent. Upon completion, the Fortune 20 investment-grade tenant will become Broadstone Net Lease's largest tenant, with year-one cash yield of approximately 8.5 percent, year-two cash yield of approximately 9.7 percent, and a straight-line yield of approximately 11.6 percent. The transaction is expected to be meaningfully accretive to Broadstone Net Lease's 2027 and 2028 earnings. CEO John Moragne described the deal as a landmark validation of the company's build-to-suit development strategy.

Counterparties

Source article