NEW
YORK, April 21, 2023 /PRNewswire/ -- The
Necessity Retail REIT, Inc. (Nasdaq: RTL/ RTLPP / RTLPO) ("RTL" or
the "Company") announced today that it completed 996,000 square
feet of multi-tenant leasing activity during the quarter ended
March 31, 2023. The Company signed 26
new leases totaling nearly 274,000 square feet and generating over
$4 million in annualized
straight-line rent. Additionally, the Company signed 44 lease
renewals totaling over 722,000 square feet and over $7 million in annualized straight-line rent.
"We continue to find success in our asset management strategy,
leasing up available space at our multi-tenant properties and
renewing near-term lease expirations with our existing tenants on
favorable terms," said Michael Weil,
CEO of RTL. "We are continuing to see significant leasing interest
from high-quality tenants across our multi-tenant portfolio that we
believe will extend our leasing momentum through the rest of the
year."
About The Necessity Retail REIT - Where America
Shops
The Necessity Retail REIT (Nasdaq: RTL) is the preeminent
publicly traded real estate investment trust (REIT) focused on
"Where America Shops." RTL acquires and manages a diversified
portfolio of primarily necessity-based retail single tenant and
open-air shopping center properties in the U.S. Additional
information about RTL can be found on its website at
www.necessityretailreit.com.
Important Notice
The statements in this press release that are not historical
facts may be forward-looking statements. These forward-looking
statements involve risks and uncertainties that could cause the
outcome to be materially different. The words such as "may,"
"will," "seeks," "anticipates," "believes," "expects," "estimates,"
"projects," "plans," "intends," "should" and similar expressions
are intended to identify forward-looking statements, although not
all forward-looking statements contain these identifying words.
These forward-looking statements are subject to a number of risks,
uncertainties and other factors, many of which are outside of RTL's
control, which could cause actual results to differ materially from
the results contemplated by the forward-looking statements. These
risks and uncertainties include the potential adverse effects of
(i) the global COVID-19 pandemic, including actions taken to
contain or treat COVID-19, (ii) the geopolitical instability due to
the ongoing military conflict between Russia and Ukraine, including related sanctions and other
penalties imposed by the U.S. and European Union, and the related
impact on RTL, RTL's tenants and the global economy and financial
markets, and (iii) inflationary conditions and higher interest rate
environments, as well as those set forth in the Risk Factors
section of RTL's most recent Annual Report on Form 10-K for the
year ended December 31, 2022 filed on
February 23, 2023, and all other
filings with the Securities and Exchange Commission after that
date, as such risks, uncertainties and other important factors may
be updated from time to time in RTL's subsequent reports. Further,
forward-looking statements speak only as of the date they are made,
and RTL undertakes no obligation to update or revise any
forward-looking statement to reflect changed assumptions, the
occurrence of unanticipated events or changes to future operating
results over time, unless required to do so by law.
Contacts:
Investor
Relations
ir@rtlreit.com
(866) 902-0063
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SOURCE The Necessity Retail REIT, Inc.