NNN REIT (NYSE: NNN), formally known as National Retail Properties, is a publicly traded real estate investment trust focused on acquiring, owning and managing a diversified portfolio of retail properties across the United States. As a net-lease REIT, the company enters into long-term, triple-net leases with national and regional tenants, shifting most property-related expenses, including maintenance, taxes and insurance, to its lessees. This structure provides NNN REIT with predictable cash flows and a stable income stream rooted in essential retail uses such as convenience stores, dollar stores, drug stores and quick-service restaurants.
Founded in 1984 and headquartered in Orlando, Florida, NNN REIT has steadily grown its footprint through disciplined acquisitions and selective lease underwriting. The company completed its initial public offering in the mid-1990s and has since pursued an investment strategy centered on single-tenant properties, favoring assets with established operators and favorable demographic catchments. By focusing on necessity-based retail, NNN REIT aims to mitigate volatility associated with broader economic cycles and consumer spending patterns.
Today, NNN REIT’s portfolio encompasses over 3,000 properties situated in nearly every U.S. state. Its tenant roster spans a mix of investment-grade credits and regional brands, reflecting a diversified industry exposure that ranges from fuel and convenience operations to value-oriented general merchandise and specialty service outlets. The company’s geographical reach and tenant mix are continually evaluated to maintain a balance between growth opportunities and risk management.
Leadership at NNN REIT includes President and Chief Executive Officer Michael A. Cushing, who oversees corporate strategy, acquisitions and operational execution, along with a senior management team experienced in real estate finance and asset management. Through a disciplined approach to portfolio expansion, lease structuring and capital allocation, NNN REIT aims to deliver long-term value for its shareholders while supporting the growth of essential retail services nationwide.