Commercial Net Lease Realty, Inc. Appoints New Chief Executive Officer

by C-BW@CLARI.NET (COMMERCIAL NET LEASE REALTY VIA BIZWIRE) on 2004-02-17 09:10:21

Commercial Net Lease Realty, Inc. Appoints New Chief Executive Officer






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YellowBrix story FL-COMMERCIAL-NET-LEASE from Commercial Net Lease Realty via BizWire
Commercial Net Lease Realty, Inc. Appoints New Chief Executive Officer
Copyright 2004 by Business Wire (via ClariNet) / Tue, 17 Feb 2004 9:10:21 EST


Industry Veteran Joins Leadership Team

ORLANDO, Fla.--(BUSINESS WIRE)--Feb. 17, 2004--The Board of
Directors of Commercial Net Lease Realty, Inc. (NYSE:NNN), an equity
real estate investment trust, has elected Craig Macnab as Chief
Executive Officer, effective February 16, 2004. Mr. Macnab will
succeed Mr. James M. Seneff, Jr., who has served as CEO since 1992.
Mr. Seneff will continue to serve as Chairman of the Board.
"We are extremely pleased to have someone of Craig's caliber join
the company, said Mr. Seneff. "His background and experience are well
suited to this position and he will be a welcome addition to our
leadership team as we build on our success over the last 12 years."
Previously, Mr. Macnab was with JDN Realty Corporation in Atlanta,
Georgia, from April 2000 to 2003, where he served as CEO and was
successful in implementing a multi-year strategy to generate
shareholder value which culminated in the merger of JDN with
Developers Diversified Realty last year. With over 20 years of
industry experience, his career has included key executive level
positions in both real estate and investment banking.
"I am excited about the opportunity with Commercial Net Lease
Realty and their record of solid financial performance. Helped by
their strong existing team and the company's highly respected
reputation in the industry, I look forward to building on this record
of success," said Mr. Macnab.
Commercial Net Lease Realty, Inc. has increased its annual common
stock dividend for 14 consecutive years and produced annual total
returns to shareholders of 12.2% for the last 10 years. The company
invests in high quality, single-tenant retail, office and industrial
properties subject generally to long-term, net leases with established
tenants, such as Barnes & Noble, Best Buy, Eckerd, OfficeMax and the
United States of America. The company currently owns 348 properties in
39 states with a gross leasable area of approximately 7.9 million
square feet. These properties are leased to 130 corporations in 48
industrial classifications.