Paul Bayer To Retire As EVP & Chief Investment Officer Of National Retail Properties, Inc.
On December 14, 2020, National Retail Properties (NYSE: NNN) announced the retirement of Paul Bayer, Executive Vice President and Chief Investment Officer, effective December 31, 2020.
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Rhea-AI Summary
On December 14, 2020, National Retail Properties (NYSE: NNN) announced the retirement of Paul Bayer, Executive Vice President and Chief Investment Officer, effective December 31, 2020. Bayer joined the company in September 1999 and has held multiple leadership roles, contributing significantly to shareholder value. He will continue to provide consulting services for one year post-retirement. As of September 30, 2020, National Retail Properties owned 3,114 properties across 48 states, with a gross leasable area of 32.4 million square feet and an average remaining lease term of 10.7 years.
Positive
- Paul Bayer's long tenure has contributed significantly to the company's growth and success.
- The company maintains a strong portfolio with 3,114 properties and a substantial gross leasable area of 32.4 million square feet.
Negative
- None.
Details
News Market Reaction – NNN
The recorded move for NNN in the trading session of this news was +1.43%.
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ORLANDO, Fla., Dec. 14, 2020 /PRNewswire/ -- National Retail Properties, Inc. (NYSE: NNN) (the "Company") today announced that Paul Bayer, Executive Vice President and Chief Investment Officer, will retire effective December 31, 2020.
Mr. Bayer has been the Company's Chief Investment Officer since June 2010 and Executive Vice President since January 2007. He joined the Company in September 1999. Mr. Bayer will continue to provide consulting services to the company for a period of one year after his retirement.
Jay Whitehurst, President and CEO, commented: "I have had the honor and pleasure to work with Paul for his entire career at National Retail Properties. Paul joined us in 1999 to work on leasing projects, and rose quickly through the ranks to oversee asset management, underwriting, and leasing as our Chief Investment Officer for the past 10 years. Paul's experience, energy, insight and creativity have created tremendous value for our shareholders. Additionally, he has been a mentor and teacher to many of his colleagues and co-workers, including me. Paul is leaving National Retail Properties better than he found it, and we wish him all the best in his well-deserved retirement."
National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of September 30, 2020, the company owned 3,114 properties in 48 states with a gross leasable area of approximately 32.4 million square feet and with a weighted average remaining lease term of 10.7 years. For more information on the company, visit www.nnnreit.com.
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SOURCE National Retail Properties, Inc.
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