UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 28, 2005
COMMERCIAL NET LEASE REALTY, INC.
(exact name of registrant as specified in its charter)
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| Maryland
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001-11290
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56-1431377 |
(State or other
jurisdiction of
incorporation or
organization)
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(Commission File Number)
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(I.R.S. Employment
Identification No.) |
450 South Orange Avenue, Orlando, Florida 32801
(Address of principal executive offices, including zip code)
(407) 265-7348
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item 1.01. Entry into a Material Definitive Agreement.
On November 28, 2005, Commercial Net Lease Realty, Inc. (the “Company”) entered into an
agreement with SSP Partners, a subsidiary of Susser Holdings, LLC (together, “Susser”), to acquire
approximately 66 convenience store properties currently owned by Susser for approximately $150
million. On December 1, 2005, the Company entered into an agreement with Susser to acquire
approximately an additional eight convenience store properties currently owned by Susser for
approximately $20 million. The properties are primarily located in Texas and operated under the
Circle K brand. Pursuant to the terms of the agreements, Susser will lease back the properties for
a twenty-year initial term under triple-net leases.
Susser operates over 300 retail convenience stores in Texas and Oklahoma and distributes motor
fuel to over 340 branded dealer units and 25 unattended units through its wholesale fuel division.
Founded in 1938 by the Susser family, Susser has experienced dynamic growth over the last decade
and is one of the largest convenience store operators in the United States.
The parties expect to complete the acquisitions by January 31, 2006, subject to customary
closing conditions. The Company anticipates that some of these properties will be held
as inventory properties and subsequently sold.