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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 K0w7/+SlSvzFbGhzwalQvoKzotUiNdWiPVXJjOmwQSpoA+tL5vq7F0nut5euJ7oG
 02z2GjtdNl7jlamLPvIYCQ==

<SEC-DOCUMENT>0000751364-03-000138.txt : 20030903
<SEC-HEADER>0000751364-03-000138.hdr.sgml : 20030903
<ACCEPTANCE-DATETIME>20030903155109
ACCESSION NUMBER:		0000751364-03-000138
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030902
FILED AS OF DATE:		20030903

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:		03879179

	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_090203ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2003-09-02</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>450 SOUTH ORANGE AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ORLANDO</rptOwnerCity>
            <rptOwnerState>FL</rptOwnerState>
            <rptOwnerZipCode>32801</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>1</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
      </reportingOwnerRelationship>
   </reportingOwner>
 <nonDerivativeTable>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Common Stock</value>
      </securityTitle>
      <transactionDate>
         <value>2003-09-02</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>P</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>127848</value>
            <footnoteId id="F2"/>
         </transactionShares>
         <transactionPricePerShare>
           <value>16.83</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>441082</value>
            <footnoteId id="F1"/>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
 </nonDerivativeTable>
   <footnotes>
      <footnote id="F1"> Includes (i) 3,820 shares held by Mr. Bourne, custodian for minor children (Robert Kyle Bourne and Conner R. Bourne) UGMA; (ii) 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; (iii) 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>

      <footnote id="F2"> Shares were purchased from four limited partnerships of which Mr. Bourne is a general partner. Purchase price was market closing price on August 29, 2003.</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>/s/Robert A. Bourne</signatureName>
      <signatureDate>2003-09-03</signatureDate>
   </ownerSignature>
</ownershipDocument>

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