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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0000751364-03-000096.txt : 20030603
<SEC-HEADER>0000751364-03-000096.hdr.sgml : 20030603
<ACCEPTANCE-DATETIME>20030603155144
ACCESSION NUMBER:		0000751364-03-000096
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030602
FILED AS OF DATE:		20030603

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COMMERCIAL NET LEASE REALTY INC
		CENTRAL INDEX KEY:			0000751364
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				561431377
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		450 S ORANGE AVE
		STREET 2:		SUITE 900
		CITY:			ORLANDO
		STATE:			FL
		ZIP:			32801
		BUSINESS PHONE:		4074237348

	MAIL ADDRESS:	
		STREET 1:		455 S ORANGE AVE STE 700
		STREET 2:		400 E SOUTH ST STE 500
		CITY:			ORLANDO
		STATE:			FL
		ZIP:			32801

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CNL REALTY INVESTORS INC /DE/
		DATE OF NAME CHANGE:	19930429

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CNL REALTY INVESTORS INC
		DATE OF NAME CHANGE:	19920831

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GOLDEN CORRAL REALTY CORP
		DATE OF NAME CHANGE:	19920703

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BOURNE ROBERT A
		CENTRAL INDEX KEY:			0001135993

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11290
		FILM NUMBER:		03730435

	BUSINESS ADDRESS:	
		STREET 1:		450 SOUTH ORANGE AVENUE
		CITY:			ORLANDO
		STATE:			FL
		ZIP:			32801
		BUSINESS PHONE:		4076503679

	MAIL ADDRESS:	
		STREET 1:		CNL REALTY INC
		STREET 2:		450 SOUTH ORANGE AVENUE
		CITY:			ORLANDO
		STATE:			FL
		ZIP:			32801
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rab4_060203ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   04/22/03  TZ    -->
<ownershipDocument>
    <schemaVersion>X0101</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2003-06-02</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000751364</issuerCik>
        <issuerName>COMMERCIAL NET LEASE REALTY INC</issuerName>
        <issuerTradingSymbol>NNN</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
      <reportingOwnerId>
            <rptOwnerCik>0001135993</rptOwnerCik>
            <rptOwnerName>BOURNE ROBERT A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>1</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
       </reportingOwnerRelationship>
   </reportingOwner>
   <nonDerivativeSecurity>
      <securityTitle>
         <value>Common Stock</value>
      </securityTitle>
      <transactionDate>
         <value>2003-06-02</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>1000</value>
         </transactionShares>
         <transactionValue>
           <value>0</value>
            <footnoteId id="F1"/>
         </transactionValue>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
     <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>568930</value>
            <footnoteId id="F2"/>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeSecurity>
   <footnotes>
<footnote id="F1"> Shares were acquired pursuant to the stock award under the Commercial Net Lease Realty, Inc. 2000 Performance Incentive Plan in a transaction exempt under Rule 16b-3. Vesting begins in 2004 and is completed in 2005.</footnote>

<footnote id="F2"> Includes (i) 3,820 shares held by Mr. Bourne, custodian for minor children (Robert Kyle Bourne and Conner R. Bourne) UGMA; (ii) 255,696 shares held by four limited partnerships of which Mr. Bourne is a general partner, of which Mr. Bourne disclaims beneficial ownership of these except to the extent of his respective shares percentage interest in each of these entities; (iii) 6,100 shares held by The Robert A. Bourne Irrevocable Trust #1 in which Mr. James M. Seneff, Jr. is a Trustee and Mr. Bourne's minor children are the beneficiaries; (iv) 150 shares acquired by Robert Kyle Bourne and held in an account named Robert Arthur Bourne Custodian for Robert Kyle Bourne UFLUTMA Until Age 21 and (v) 26,000 shares acquired in Mr. Bourne's 401-K account.</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>/s/ Robert A. Bourne</signatureName>
      <signatureDate>2003-06-03</signatureDate>
   </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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