GLOBAL NET LEASE ANNOUNCES OVER 675,000 SQUARE FEET OF LEASE RENEWALS IN FIRST QUARTER

GLOBAL NET LEASE ANNOUNCES OVER 675,000 SQUARE FEET OF LEASE RENEWALS IN FIRST QUARTER

Leases have weighted-average remaining term of seven years, expected to generate over $6.7 million of straight-line rent over term

NEW YORK, April 17, 2023 /PRNewswire/ — Global Net Lease, Inc. (“GNL” or the “Company”) (NYSE: GNL/ GNL PRA / GNL PRB) announced today that it executed seven lease renewals during the first quarter with existing tenants, including the previously announced lease with Rheinmetall. These leases total approximately 678,500 square feet and have a new weighted-average remaining lease term of 7.0 years. Over time, the leases are expected to generate $6.77 million of straight-line rent. Renewal leases were signed with tenants in Germany, the United Kingdom, and the United States.

“We continue to be successful renewing near-term lease expirations with our existing tenants on favorable terms, including an aggregate increase of over $270,000 in straight-line rent,” said James Nelson, CEO of GNL. “By building relationships well in advance of lease expirations we have been able to retain our high-quality tenants and increase our weighted-average lease duration. With our portfolio nearly fully leased, we believe that focusing our asset management efforts on long-term leases is one of the most important ways that we can create value for shareholders.”

About Global Net Lease, Inc.

Global Net Lease, Inc. (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE focused on acquiring a diversified global portfolio of commercial properties, with an emphasis on sale-leaseback transactions involving single tenant, mission critical income producing net-leased assets across the United States, Western and Northern Europe. Additional information about GNL can be found on its website at www.globalnetlease.com.

Important Notice

The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. The words such as “may,” “will,” “seeks,” “anticipates,” “believes,” “expects,” “estimates,” “projects,” “plans,” “intends,” “should” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to a number of risks, uncertainties and other factors, many of which are outside of the Company’s control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include the potential adverse effects of (i) the global COVID-19 pandemic, including actions taken to contain or treat COVID-19, (ii) the geopolitical instability due to the ongoing military conflict between Russia and Ukraine, including related sanctions and other penalties imposed by the U.S. and European Union, and the related impact on the Company, the Company’s tenants and the global economy and financial markets, and (iii) inflationary conditions and higher interest rate environments, as well as those set forth in the Risk Factors section of the Company’s most recent Annual Report on Form 10-K for the year ended December 31, 2022 filed on February 23, 2023, and all other filings with the Securities and Exchange Commission after that date, as such risks, uncertainties and other important factors may be updated from time to time in the Company’s subsequent reports. Further, forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statement to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required to do so by law.

Contacts:
Investors and Media:
Email: [email protected]
Phone: (212) 415-6510

SOURCE Global Net Lease, Inc.

Originally published at https://www.prnewswire.com/news-releases/global-net-lease-announces-over-675-000-square-feet-of-lease-renewals-in-first-quarter-301798006.html

business banners

Latest posts

Mitch Gould’s Strategic Vision Elevates Nutritional Products International to New Heights in Retail Distribution

Mitch Gould, Founder and CEO of NPI BOCA RATON, FL, UNITED STATES, February 14, 2024 /EINPresswire.com/ -- Mitch Gould has built...

Newport Restoration Foundation Begins a Residential-Scale Energy Efficiency Study of Historic Properties

The multi-phase project begins in 2024 at 38 Green Street NEWPORT, R.I. , February 16, 2024 /PRNewswire/ -- In response to a quickly transforming real...

Be a part of the Digital Inclusion Community Kick-Off event

Be a part of the change in your community by joining Miami-Dade County at the Digital Inclusion Community Kick-Off event at Oak Grove Park,...

Nationwide Arena: A Hub for Sports and Entertainment in Columbus.

Nationwide Arena: Where Sports Thrive and Entertainment Comes Alive in Columbus. ASHBURN, DC, UNITED STATES, February 15, 2024 /EINPresswire.com/ -- Nestled...

Newsmatics Partners with Masaryk University’s Faculty of Informatics to Enhance Data Science Capabilities

Collaboration to focus on optimizing data science and AI technology to improve media analysis. We are excited to partner with Masaryk...

Ritchie Bros.’ Largest-Ever Premier Global Auction Event in Orlando to Feature Record-Setting 16,500+ Heavy Equipment Assets and Vehicles

ORLANDO, Fla. and WESTCHESTER, Ill., Feb. 16, 2024 /PRNewswire/ - RB Global, Inc. (NYSE: RBA) (TSX: RBA), the trusted global marketplace for insights, services...

Governor Ron DeSantis Appoints Bette Brown to the Florida Keys Mosquito Control District Board of Commissioners

TALLAHASSEE, Fla. — Today, Governor Ron DeSantis announced the appointment of Bette Brown to the Florida Keys Mosquito Control District Board of Commissioners. Bette Brown Brown, of...
celebrity reality tv