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Business Wire
02-06-2025
- Business
- Business Wire
Broadstone Net Lease Provides an Update on Recent Business Activity and Participation at Nareit's REITweek 2025 Annual Conference
VICTOR, N.Y.--(BUSINESS WIRE)--Broadstone Net Lease, Inc. (NYSE: BNL) ('Broadstone,' 'BNL,' the 'Company,' 'we,' 'our,' or 'us'), today provided an update on its recent business activity through June 2, 2025. Additionally, the Company announced that BNL's CEO, John Moragne and CFO, Kevin Fennell, will be participating in the Nareit REITweek 2025 Annual Conference in New York, NY on June 3 and June 4, 2025. JUNE 2025 BUSINESS UPDATE Quarter-to-date, we have invested $83.3 million, including $54.7 million in new property acquisitions and $28.6 million in build-to-suit developments. Year-to-date, we have invested $171.7 million, including $113.7 million in new property acquisitions, and $55.1 million in build-to-suit developments, and $2.8 million in revenue generating capital expenditures. Total investments consist of $152.5 million in industrial properties and $19.2 million in retail properties. As of the date of this release, we have $191.6 million of new property acquisitions under control, consisting of $170.2 million in industrial properties and $21.4 million in retail properties. During the quarter, we successfully sold two healthcare assets for gross proceeds of $5.5 million, bringing our year-to-date total dispositions to $12.9 million. As a result of the second quarter dispositions, we have reduced our Clinical & Surgical healthcare properties to 2.4% of our total ABR. In connection with our previously announced $400 million unsecured term loan maturing in 2028, we exercised the remaining $100 million draw feature, increasing the total term loan to $500 million. The proceeds were used to repay outstanding borrowings on our revolving credit facility. Collected 99.1% of base rents due year-to-date for all properties under lease. The following table summarizes developments that are actively under construction and reflects cumulative investments as of June 2, 2025: (unaudited, in thousands) In-process retail: 7 Brew (High Point - NC) 1 Dec. 2024 Jun. 2025 15.0 1.9 % $ 1,975 $ 1,477 $ 498 8.0 % 8.8 % In-process industrial: Sierra Nevada (Dayton - OH) 122 Oct. 2024 Nov. 2025 15.0 3.0 % 58,563 19,064 39,500 7.6 % 9.4 % Sierra Nevada (Dayton - OH) 122 Oct. 2024 Mar. 2026 15.0 3.0 % 55,525 15,044 40,481 7.7 % 9.6 % Southwire (Bremen - GA) 1,178 Dec. 2024 Jul. 2026 10.0 2.8 % 115,411 15,926 99,485 7.8 % 8.8 % Fiat Chrysler Automobile (Forsyth - GA) 422 Apr. 2025 Aug. 2026 15.0 2.8 % 78,242 10,542 67,700 6.9 % 8.4 % Total / weighted average 1,844 13.1 2.8 % $ 309,716 $ 62,053 $ 247,664 7.5 % 8.9 % Stabilized industrial: UNFI (Sarasota - FL) 1,016 May 2023 Completed 15.0 2.5 % 200,958 200,958 — 7.2 % 8.6 % Stabilized retail: 7 Brew (Charleston - SC) 1 Completed 15.0 1.9 % 1,729 1,035 694 7.9 % 8.8 % Total / weighted average 2,861 13.9 2.7 % $ 512,404 $ 264,046 $ 248,358 7.4 % 8.8 % 1 Represents the estimated first year yield to be generated on a real estate investment, which was computed at the time of investment based on the estimated annual straight-line rental income computed in accordance with GAAP, divided by the estimated total project investment. Expand About Broadstone Net Lease, Inc. BNL is an industrial-focused, diversified net lease REIT that invests in primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. Utilizing an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting, as of March 31, 2025, BNL's diversified portfolio consisted of 769 individual net leased commercial properties with 762 properties located in 44 U.S. states and seven properties located in four Canadian provinces across the industrial, retail, and other property types. Forward-Looking Statements This press release contains 'forward-looking' statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our plans, strategies, and prospects, both business and financial. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as 'outlook,' 'potential,' 'may,' 'will,' 'should,' 'could,' 'seeks,' 'approximately,' 'projects,' 'predicts,' 'expect,' 'intends,' 'anticipates,' 'estimates,' 'plans,' 'would be,' 'believes,' 'continues,' or the negative version of these words or other comparable words. Forward-looking statements, including our 2025 guidance and assumptions, involve known and unknown risks and uncertainties, which may cause BNL's actual future results to differ materially from expected results, including, without limitation, risks and uncertainties related to general economic conditions, including but not limited to increases in the rate of inflation and/or interest rates, local real estate conditions, tenant financial health, property investments and acquisitions, and the timing and uncertainty of completing these property investments and acquisitions, and uncertainties regarding future distributions to our stockholders. These and other risks, assumptions, and uncertainties are described in Item 1A 'Risk Factors' of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was filed with the SEC on February 20, 2025, and the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, which was filed with the SEC on May 1, 2025, both of which you are encouraged to read, and will be available on the SEC's website at Please note that such Risk Factors will be updated, if necessary, through the filing of Quarterly Reports on Form 10-Q. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. The Company assumes no obligation to, and does not currently intend to, update any forward-looking statements after the date of this press release, whether as a result of new information, future events, changes in assumptions, or otherwise.
Yahoo
14-05-2025
- Business
- Yahoo
Ready to try a new coffee spot? 7 Brew Coffee has opened in the Town of Buchanan
Ready to try a new drive-through coffee spot? 7 Brew Coffee is now open in the Town of Buchanan. The coffee shop, W3236 Outagamie County KK, opened on May 12. A ribbon cutting ceremony was held on May 14 with the Fox Cities Chamber of Commerce to celebrate the opening, the location marking the first from the brand to arrive in the Fox Cities. "We're happy to have them here," Eric Broten, vice president of business growth and development for the Fox Cities Chamber, told the Appleton Post-Crescent. "Anytime we can bring new businesses into the area that we know have a great chance to succeed is great. It's been a long time coming and you can tell people are excited about it and love their coffee, so we're thrilled." Sign up for the Buzz newsletter Click here to get all the business openings and closings news right in your inbox The coffee drive-through was initially announced in November. In an interview with the Appleton Post-Crescent, 7 Brew's local franchisee owner, Tommy Pennington, said the turn out since opening has been great, and he's open to the idea of adding additional locations in the area. "The whole process has been smooth," Pennington said. "We have a really strong team here and they've been doing a fantastic job kicking things off." While preparing to open the location, 7 Brew gave away 15,000 drinks for free to local businesses and community members as a way to give back to the community. Pennington said the giveaway was a great way to train the team and introduce the business to the area. In honor of the recent opening, 7 Brew has been celebrating with an array of deals. It's current ongoing deals are free small drinks from 8 to 9 a.m., noon to 1 p.m. and 5 to 6 p.m. now through May 23. The business is also holding a "swag day" on May 24 where customers who order a large drink will receive a free t-shirt. The coffee stand, whose motto is "cultivating kindness," specializes in coffee beverages, teas, sodas, energy drinks, smoothies, and more, and is known for offering over 20,000 drink combinations. For more information, visit 7 Brew's website at Faith Huey is a business reporter for The Appleton Post-Crescent. You can reach her at fhuey@ or view her Instagram profile at @ This article originally appeared on Appleton Post-Crescent: 7 Brew Coffee is now open in the Town of Buchanan
Yahoo
14-05-2025
- Business
- Yahoo
Construction projects in Wichita Falls to boost economy
WICHITA FALLS (KFDX/KJTL) — Wichita Falls is growing and staying busy, and Mayor Tim Short explains all the details. Construction in Wichita Falls: Over a billion dollars in construction in the city, including walls being built for both WinCo Foods and the Amazon facility and the newest 7Brew building, as well as the construction going on at the State Hospital. Downtown Wichita Falls: With the monthly Art Walks and all the events like St. Patrick's festival, Cajun Fest, and many businesses that host events during the week and weekends. Castaway Cove: The new attraction will open in summer 2025, and high temperatures will keep the waterpark busy. Short touched base on how the construction of these businesses is essential, as many jobs will be available soon. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Associated Press
29-04-2025
- Business
- Associated Press
7 Brew Appoints Stephanie Quillen as its First Chief People Officer
FAYETTEVILLE, Ark.--(BUSINESS WIRE)--Apr 29, 2025-- 7 Brew, the drive-thru beverage concept reimagining the industry with its speed of service, premium-quality drinks, and high-energy hospitality, today announced the appointment of Stephanie Quillen as its first Chief People Officer. As 7 Brew continues its bold national expansion, the new Chief People Officer role is designed to build the people, systems and strategy needed to support a brand that is fast-growing, fun and brimming with opportunity. This press release features multimedia. View the full release here: 7 Brew has appointed HR veteran Stephanie Quillen as its first Chief People Officer. 'We are thrilled to welcome Stephanie to 7 Brew. Her passion for company culture and expertise in human resources make her an ideal leader for this crucial role on our leadership team,' said Chris Dawson, President of 7 Brew. 'Our Brew Crew, our franchise partners, and our corporate employees are our most valuable asset, and their dedication drives our success every day. As we reach a pivotal point in our growth, I'm confident that Stephanie's proven ability to create environments where teams and talent thrive will help shape 7 Brew into a high-performing, people-first environment.' Quillen brings over 15 years of experience in this space, with a track record of developing people strategies and driving large-scale transformation across some of the world's most recognizable brands. Most recently, as Principal Executive Advisor at Guild, she partnered with Fortune 500 companies to build future-ready workforces through transformational HR strategies. Prior to Guild, Quillen was VP of People at Indigo Ag, where she led global talent initiatives. She also held a series of senior HR leadership roles at Tyson Foods, including Head of People Strategy & HR Capabilities. Earlier in her career, Quillen spent five years at Walmart, specializing in executive selection, assessment strategy, hiring and global HR operations. 'I'm excited to join 7 Brew and for the opportunity to lead and enhance the employee experience,' said Quillen. 'The Company's commitment to a people-first culture is evident, and I look forward to leveraging my human resources experience to ensure we have the right infrastructure, strategies and development programs to make 7 Brew the best place our employees will ever work.' 7 Brew is gaining momentum as it expands across the U.S., with a mission to transform the drive-thru beverage experience by cultivating kindness and joy in every drink through its service, speed, quality, energy, and atmosphere – creating a cultural movement. As Chief People Officer, Quillen strengthens 7 Brew's leadership team, furthering the Company's dedication to fostering a positive culture, enhancing talent retention and development, and providing meaningful opportunities for career growth. Follow 7 Brew on Instagram, Facebook, X (Twitter) and TikTok to keep up with the latest local news, brews and offers. About 7 Brew 7 Brew is a rapidly growing beverage concept that is revolutionizing how customers experience drive-thru service by igniting positivity into their any-time energy boost. 7 Brew serves espresso-based coffee, chillers, teas, infused energy, sodas, and more, all with an extra boost of kindness from its Brew Crew. The dream of 7 Brew came alive with the first 'stand' in Rogers, AR, and its seven original coffees. Now, 7 Brew boasts more than 375 stands across the country, with plenty of room to grow. In recent years, the brand has been recognized as 'Breakout Brand of the Year' by QSR Magazine, and ranked as the fastest-growing chain in the U.S. by Datassential and Technomic. For more information, visit and follow 7 Brew on Instagram ( @7brewcoffee ), TikTok ( @7brewcoffee ), Facebook ( ) and X (Twitter) ( @7BrewCoffee ). View source version on CONTACT: Media Contact: ICR for 7 Brew [email protected] KEYWORD: UNITED STATES NORTH AMERICA ARKANSAS INDUSTRY KEYWORD: FOOD/BEVERAGE OTHER RETAIL RETAIL PROFESSIONAL SERVICES HUMAN RESOURCES SOURCE: 7 Brew Copyright Business Wire 2025. PUB: 04/29/2025 10:46 AM/DISC: 04/29/2025 10:46 AM
Miami Herald
21-04-2025
- Business
- Miami Herald
Walmart makes bold move to take down Starbucks
Starbucks has a bit of an elitist reputation. The chain has always been true to its Seattle roots and its coffeehouse tradition. Coffeehouses aren't bars. They're places famous for being filled with wannabe writers typing away at their take on the Great American Novel while sipping espresso-based beverages. Related: Amazon makes urgent move to avoid US-China trade war impact The classic coffeehouse hosts poetry slams and acoustic guitar players. They might offer a book club, backgammon boards, and chess sets along with other semi-elitists airs. Starbucks (SBUX) comes from that tradition even if it has generally stopped short of offering poetry slams, live readings, or acoustic music. The chain still charges top-tier prices, and offers plenty of fancy drinks that draw on its Italian inspiration. That's not to say Starbucks doesn't court every customer. The chain sells a lot of Frappuccinos. which are essentially milkshakes, as well as lots of other nothing-to-do with coffee beverages, but it's still largely seen as a higher-end chain that courts upscale customers. Don't miss the move: Subscribe to TheStreet's free daily newsletter In theory, that leave Starbucks vulnerable to competitors which use more of a blue collar model. In reality, though, efforts from both McDonald's and Dunkin' to bring fancier coffee to the masses may have increase their sales, but not done much to market share from Starbucks. Similarly, chains like 7 Brew which embraces a wide-range of sweeter and non-coffee drinks, lack the scale to threaten Starbucks' thrown. A new deal, however, could be the first step toward changing that. Walmart has always had a few stores-within-its-stores. It used to have hundreds of McDonald's locations, but that partnership has been scaled back as has a similar deal with Subway. The chain has experimented with adding sushi in same locations as well as fast-food chains like Taco Bell and Domino's. Now, however, it may have stumbled upon the perfect partner. 7 Brew takes the coffee model and modifies it. The chain offers drive-through-only locations with its 7 Originals - coffee drinks that are all sweet concoctions - along with a changing array of beverages including everything from energy drinks and Italian sodas to smoothies, teas, and lemonades. Retail Tariffs: Mark Cuban sounds alarm on how consumers should handle tariffsTarget makes controversial move to dodge high tariff costs Walmart doubles down on harsh tactic to shrink threat of tariffs The company, which now has over 375 locations, grew out of a simple idea. "7 Brew was born from a desire to change drive-thru coffee into a fun, mind-blowing experience for everyone. We dreamed of serving premium coffee in record time and making new friends while we're at it. The dream came alive with our first 'stand' in Rogers, AR and our 7 original coffees," the company shared on its website. 7 Brew has grown quickly using a very simple model and very low-tech. It does not offer an app, but does have a loyalty program tied to customers' phone numbers. The chain does not even detail that program on its website, but every now and again customers earn a free drink. 7 Brew does not even offer a full menu at its stores. You can see signs promoting seasonal and specialty drinks, but need to scan a QR code in order to bring the menu up. Lines can get quite long at the dual-drive-thrus, but workers take orders up and down the line via tablets and everything moves quickly. Now 7 Brew has a new model, a walk-thru model in the Springdale, Arkansas Walmart. That may seem like a small thing, but Walmart and 7 Brew may be the perfect operating partners at just the right time. The coffee chain offers an affordable indulgence that's more accessible than the Starbucks menu. It's "7 Originals" offer choices for people who are not traditional coffee drinkers. Related: Amazon makes harsh move amid major customer concern It's very easy to see Walmart, customers, embracing the idea of having a drink from the chain to either start or end their shopping journey. And, while it's a reach to think that these sales could someday impact Starbucks, Walmart is one of the few brands that could offer that scale. This is a single coffee shop in a single Walmart, for now, but the potential for this to be a disruptive partnership is very clear. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
