ESCONDIDO, CA-Locally based NNN specialist Realty Income Corp. has agreed to acquire 2,000 acres of Diageo Chateau & Estate wineries in the Napa Valley for $269 million in a sale-leaseback. The properties are all under 20-year NNN leases with Diageo Chateau & Estate Wines that are guaranteed by Diageo Plc, one of the world’s largest purveyors of spirits, wine and beer, listed on the New York and London stock exchanges.

The properties, located throughout the Napa Valley in Napa County, include vineyards that have been in production for between 25 and 100 years, as well as the winery, production, retail and visitor center buildings of both the Sterling Vineyards winery and the Beaulieu Vineyards winery, with combined leasable space of approximately 400,000 square feet.

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