National Retail Properties
Topic: Company
From HandWiki - Reading time: 3 min
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| Type | Public company |
|---|---|
| NYSE: NNN S&P 400 component | |
| 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 |  $0.674 billion (2019) |
| $0.299 billion (2019) | |
| Total assets | $8.500 billion (2019) |
| Total equity |  $4.332 billion (2019) |
Number of employees | 70 (2020) |
| Website | www |
| Footnotes / references [1] | |
National Retail Properties, 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.[1]
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.[1]
History
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.[2][3]
In 1993, the company split from Golden Corral, and changed its name to Commercial Net Lease Realty.[2] The company also moved its listing to the New York Stock Exchange.[4]
On January 1, 1998, the company merged with its former external adviser, CNL Realty Advisor Inc., and became a self-advised, self-managed REIT.[5]
In February 2004, Craig Macnab was named chief executive officer of the company.[6] In May 2004, he was also named president.[7]
In 2005, the company acquired National Properties Corporation for $61 million.[8]
In May 2006, the company changed its name to National Retail Properties, Inc.[9]
In 2015, the company acquired 19 Frisch's restaurants in the Cincinnati, Ohio area for $47 million in a leaseback transaction.[10]
In April 2017, Craig Macnab retired and Jay Whitehurst became CEO & President of the company.[11][12]
References
- ↑ 1.0 1.1 1.2 "National Retail Properties, Inc. 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission. https://www.sec.gov/ix?doc=/Archives/edgar/data/751364/000075136420000021/nnn-20191231x10k.htm.
- ↑ 2.0 2.1 DeGross, Renee (June 1, 2006). "The Name Game". National Real Estate Investor. http://www.nreionline.com/mag/name-game.
- ↑ "Corporate Notes". The New York Times. August 17, 1984. https://www.nytimes.com/1984/08/17/business/briefs-corporate-notes.html.
- ↑ "Commercial Net Realty Applies For Nyse Listing". Orlando Sentinel. December 2, 1993. http://articles.orlandosentinel.com/1993-12-02/business/9312020700_1_net-lease-realty-york-stock-exchange-common-stock.
- ↑ Mishra, Upendra (May 1, 1998). "The Best Things In Life Are Freestanding". National Real Estate Investor. http://www.nreionline.com/mag/best-things-life-are-freestanding.
- ↑ "Commercial Net Lease Realty, Inc. Appoints New Chief Executive Officer; Industry Veteran Joins Leadership Team" (Press release). Business Wire. February 17, 2004.
{{cite press release}}: External link in|publisher= - ↑ "Commercial Net Lease Realty, Inc. Announces Retirement of President and Chief Operating Officer" (Press release). Business Wire. May 3, 2004.
{{cite press release}}: External link in|publisher= - ↑ "Commercial Net Lease Realty, Inc. Agrees to Acquire National Properties Corporation" (Press release). Business Wire. January 18, 2005.
{{cite press release}}: External link in|publisher= - ↑ "Commercial Net Lease Realty changing names". American City Business Journals. April 28, 2006. https://www.bizjournals.com/orlando/stories/2006/04/24/daily48.html.
- ↑ Demeropolis, Tom (September 14, 2015). "New owner sells Frisch's real estate for $47 million". American City Business Journals. https://www.bizjournals.com/cincinnati/news/2015/09/14/new-owner-sells-frischs-real-estate-for-47-million.html.
- ↑ "Craig Macnab To Retire As CEO Of National Retail Properties, Inc.; Julian E. ("Jay") Whitehurst Named As Successor" (Press release). PR Newswire. September 29, 2016.
- ↑ Arnold, Kyle (September 30, 2016). "National Retail CEO Craig Macnab announces retirement". The Orlando Sentinel. http://www.orlandosentinel.com/business/consumer/os-nationa-retail-ceo-retires-20160930-story.html.
External links
- Business data for National Retail Properties, Inc.:
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