Broadstone Net Lease raises full-year AFFO guidance midpoint to $1.56 after $303 million Colorado tech facility deal

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Broadstone Net Lease raised its full-year 2026 adjusted funds from operations per share guidance to a range of $1.55 to $1.57, with the midpoint moving to $1.56, following a $303 million build-to-suit agreement for an advanced technology facility in Colorado. The Colorado development, the company's largest public-company transaction to date, is a powered shell facility leased to a Fortune 20 investment-grade company and is expected to generate a straight-line yield of approximately 11.6%, with initial cash yields of 8.5% in the first year rising to 9.7% in the second year. The company also raised its full-year investment guidance to $600 million to $800 million, up from a previous range of $500 million to $625 million, and increased its disposition guidance to $100 million to $150 million. Second-quarter revenue was $122.3 million, net income rose 110% to $40.3 million, and AFFO reached $78.2 million, or $0.39 per share, a 2.6% year-over-year increase. The committed build-to-suit pipeline now totals approximately $645 million, with about $46 million of incremental annualized base rent expected to come online by the first half of 2027.

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