Commercial Net Lease thrives in growing niche

As an owner/developer of free-standing retail properties, Commercial Net Lease Realty Inc.'s (CNLR) primary competitors are not other real estate companies; they are the retailers themselves. Operating in a highly fragmented segment in the retail real estate market, real estate investment trust CNLR has carved out a comfortable niche through efficient development practices, extensive research and focus on customer relations. CNLR focuses on properties between 7,500 and 1000,000 sq. ft., developed at a cost between $1 million and $10 million. Although most institutional investors eschew this size in favor of larger properties, CNLR's customer and market research, efficient operating procedures and long-term relationships have made the ocmpany's bottom line a strong one.