NNN REIT, INC. — Director's Dealing 2011

May 2, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATIONAL RETAIL PROPERTIES, INC. (NNN)
CIK: 0000751364
Period of Report: 2011-04-29

Reporting Person: MARTINEZ ROBERT (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-04-29	Common Stock	A	499	$26.43	Acquired	40307	Direct
2011-04-29	Common Stock	A	558	$26.43	Acquired	40865	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6125	Indirect

Footnotes

F1: Reflects the deferral under the company's Deferred Fee Plan and conversion into stock units of the compensation otherwise payable for Board and Committee services.

F2: Shares were acquired pursuant to a stock award under the National Retail Properties 2007 Performance Incentive Plan in a transaction 16-b.