NNN Reit

NNN REIT, Inc.
FormerlyGolden Corral Realty Corp. (1984-1993)

Commercial Net Lease Realty (1993-2006)

National Retail Properties, Inc. (2006-2023)
TypePublic company
IndustryReal estate investment trust
FoundedOctober 1984; 42 years ago (1984-10) (as Golden Corral Realty Corp.)
HeadquartersOrlando, Florida, U.S.
Key people Stephen A. Horn, Jr. (CEO & President)
Edward J. Fritsch (Chairman)
Vincent H. Chao (CFO)
ProductsSingle-tenant, net leased freestanding retail
RevenueIncrease US$0.926 billion (2025)
Increase US$0.389 billion (2025)
Total assetsIncrease US$9.3 billion (2025)
Total equityIncrease US$7.9 billion (Q3 2026)
Number of employees
87 (2026)
RatingBBB+ (S&P) / Baa1 (Moody's)
Websitewww.nnnreit.com
Footnotes

NNN REIT, Inc. is a real estate investment trust that invests primarily in restaurant properties that are subject to long-term triple net leases, usually under leaseback arrangements. It is organized in Maryland with its principal office in Orlando, Florida.

As of September 30, 2026, the company owned 3,817 properties containing 40.8 million square feet, 17.6% of the company's revenue was from properties in Texas, and 8.7% of the company's revenue was from properties in Florida.

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.

In 1993, the company split from Golden Corral, and changed its name to Commercial Net Lease Realty. The company also moved its listing to the New York Stock Exchange.

On January 1, 1998, the company merged with its former external adviser, CNL Realty Advisor Inc., and became a self-advised, self-managed REIT.

In February 2004, Craig Macnab was named chief executive officer of the company. In May 2004, he was also named president.

In 2005, the company acquired National Properties Corporation for $61 million.

In May 2006, the company changed its name to National Retail Properties, Inc.

In April 2022, Jay Whitehurst retired and Stephen Horn became CEO & President of the company.

In May 2023, the company changed its name to NNN REIT, Inc. to better reflect their stock ticker.

References

  1. 1 2 3 "NNN REIT, Inc. 2025 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. 1 2 DeGross, Renee (June 1, 2006). "The Name Game". National Real Estate Investor.
  3. ↑ "Corporate Notes". The New York Times. August 17, 1984.
  4. ↑ "Commercial Net Realty Applies For Nyse Listing". Orlando Sentinel. December 2, 1993.
  5. ↑ Mishra, Upendra (May 1, 1998). "The Best Things In Life Are Freestanding". National Real Estate Investor.
  6. ↑ "Commercial Net Lease Realty, Inc. Appoints New Chief Executive Officer; Industry Veteran Joins Leadership Team" (Press release). Business Wire. February 17, 2004.
  7. ↑ "Commercial Net Lease Realty, Inc. Announces Retirement of President and Chief Operating Officer" (Press release). Business Wire. May 3, 2004.
  8. ↑ "Commercial Net Lease Realty, Inc. Agrees to Acquire National Properties Corporation" (Press release). Business Wire. January 18, 2005.
  9. ↑ "Commercial Net Lease Realty changing names". American City Business Journals. April 28, 2006.
  10. ↑ "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.
  11. ↑ Arnold, Kyle (September 30, 2016). "National Retail CEO Craig Macnab announces retirement". The Orlando Sentinel.