Subsequent Events

6 Months Ended

Jun. 30, 2011

Subsequent Events

Subsequent Events

Note 12 – Subsequent Events:

NNN reviewed all subsequent events and transactions that have occurred after June 30, 2011, the date of the condensed consolidated balance sheet.

In July 2011, NNN closed on its public offering of $300,000,000 principal amount of 5.500% senior unsecured notes due July 15, 2021. The public offering price was 98.577% of the principal amount for a yield of 5.688%. The notes will be senior unsecured obligations of the Company and are registered under the Company's existing shelf registration statement filed with the Securities and Exchange Commission. NNN used the net proceeds from this offering to repay all of NNN's outstanding borrowings under the Credit Facility. In addition, NNN intends to use the remainder of the net proceeds to fund future property acquisitions and for general corporate purposes.

There were no other reportable subsequent events or transactions.