Subsequent Events

12 Months Ended

Dec. 31, 2011

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events:

NNN reviewed all subsequent events and transactions that have occurred after December 31, 2011 the date of the consolidated balance sheet.

On February 23, 2012, NNN consummated an underwritten public offering of 11,500,000 depositary shares (including net proceeds from the underwriters over-allotment exercise), each representing a 1/100th interest in a share of 6.625% Series D Cumulative Redeemable Preferred Stock (“Series D Preferred Stock”), and received gross proceeds of $287,500,000.In connection with this offering, the Company incurred stock issuance costs of approximately $9,600,000, consisting primarily of underwriting commissions and fees, legal and accounting fees and printing expenses.

NNN intends to use the net proceeds (including net proceeds from the underwriters' over-allotment exercise) of approximately$277,900,000 from this offering to redeem the Series C Preferred Stock, which became redeemable on October 12, 2011. The Series C Preferred Shares will be redeemed on March 15, 2012 at $25.00 per depositary share, plus all accumulated and unpaid distributions through the redemption date, for an aggregate redemption price of $25.0768229 per depositary share. NNN intends to use the remainder of the net proceeds for general corporate purposes, which may include repaying the outstanding indebtedness under its Credit Facility.

There were no other subsequent events or transactions.