Broadstone Net Lease (BNL) risk factors

Item 1A of every Broadstone Net Lease, Inc. 10-K on file, and what changed from one year to the next. Readings are automated and can be wrong; check the filing for the exact wording.

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FY2025 10-K risk factors
64 risks2 new6 dropped16 reworded
Development risks now specifically include construction delays, supply-chain disruption, materials inflation, cost overruns, and permitting failures.
Filed Feb 19, 2026
FY2024 10-K risk factors
68 risks
The company relies heavily on single-tenant industrial and retail net leases, with significant geographic concentration in Texas, Michigan, and Florida. Tenant credit risk is high, with only 17.4% of annualized base rent coming from investment-grade tenants.
Filed Feb 20, 2025