National Retail Properties

Short description: (ticker symbol: NNN) a real estate investment trust in the US

National Retail Properties, Inc.

Type| Public company

Traded as

| NYSE: NNN
S&P 400 component
Industry| Real estate investment trust
Founded| October 1984; 41 years ago (1984-10) (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)

Net income

|  $0.299 billion (2019)
Total assets|  $8.500 billion (2019)
Total equity|  $4.332 billion (2019)

Number of employees

| 70 (2020)
Website| www.nnnreit.com
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. ↑ 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. ↑ 2.0 2.1 DeGross, Renee (June 1, 2006). "The Name Game". National Real Estate Investor. http://www.nreionline.com/mag/name-game.
3. ↑ "Corporate Notes". The New York Times. August 17, 1984. https://www.nytimes.com/1984/08/17/business/briefs-corporate-notes.html.
4. ↑ "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.
5. ↑ 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.
6. ↑ "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=`` (help)
7. ↑ "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=`` (help)
8. ↑ "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=`` (help)
9. ↑ "Commercial Net Lease Realty changing names". American City Business Journals. April 28, 2006. https://www.bizjournals.com/orlando/stories/2006/04/24/daily48.html.
10. ↑ 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.
11. ↑ "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.
12. ↑ 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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* Bloomberg
* Reuters
* SEC filings

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