Broadstone Net Lease, Inc. is an industrial-focused REIT that owns and leases single-tenant commercial real estate properties—primarily distribution centers, warehouses, manufacturing facilities, and retail properties—to creditworthy tenants on long-term net leases where tenants pay operating expenses. The company generates revenue primarily through base rent, contractual annual rent escalations that average around 2%, and participation in capital expenditures, creating organic growth and inflation protection with minimal vacancy. The diversified portfolio spans hundreds of properties across multiple industries and geographies, leased to numerous commercial tenants, enabling the company to grow through embedded same-store rent growth, build-to-suit developments for existing tenants, and acquisitions of mission-critical properties for creditworthy operators.