Global Net Lease, Inc. (NYSE: GNL) announced today that on October 5, 2021, the Company closed on the acquisition of a 90,000 square foot training and development center in Bentonville, Arkansas that is leased to Walmart, Inc. The Walmart Learning Center serves as the primary digital and onsite training and development facility for Walmart associates located in the United States and around the world. The property was acquired for a contract purchase price of $40.6 million, excluding closing costs, and has seven years of remaining lease term. Additionally, on October 8, 2021, the Company closed on the acquisition of two industrial properties leased to Pilot Point Steel for a contract purchase price of $14.2 million. Including both acquisitions closed in October, year to date, GNL has closed on nine properties for a contract purchase price of $381 million1 at a going-in capitalization rate2 of 8.73%, a weighted-average capitalization rate of 9.74%, and a weighted average remaining lease term of 16.9 years at closing.
“We are very pleased to add Walmart, the number one company on the 2021 Fortune 500 list and rated AA by Standard & Poor’s, to our tenant roster. The brand-new, open-concept training center we acquired is part of the company’s new headquarters campus and includes annual rent escalations during the long-term lease,” said James Nelson, CEO of GNL. “Walmart has invested heavily in their ongoing digital transformation and the Walmart Learning Center has been built out with cutting edge audio and visual capabilities to facilitate simultaneous training for Walmart’s associates across the globe. GNL’s portfolio and reputation as a premier real estate partner for global brands is further enhanced by this acquisition.”
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.
