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    <link:label id="lab_us-gaap_GainLossOnSaleOfProperties_43FE5B14D893EF4D8B79AB7C7A851F68_negatedLabel_en-US" xlink:label="lab_us-gaap_GainLossOnSaleOfProperties_43FE5B14D893EF4D8B79AB7C7A851F68" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Gain on disposition of real estate</link:label>
    <link:label id="lab_us-gaap_GainLossOnSaleOfProperties_43FE5B14D893EF4D8B79AB7C7A851F68_label_en-US" xlink:label="lab_us-gaap_GainLossOnSaleOfProperties_43FE5B14D893EF4D8B79AB7C7A851F68" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (Loss) on Sale of Properties</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_GainLossOnSaleOfProperties" xlink:label="loc_us-gaap_GainLossOnSaleOfProperties_43FE5B14D893EF4D8B79AB7C7A851F68" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainLossOnSaleOfProperties_43FE5B14D893EF4D8B79AB7C7A851F68" xlink:to="lab_us-gaap_GainLossOnSaleOfProperties_43FE5B14D893EF4D8B79AB7C7A851F68" xlink:type="arc" />
    <link:label id="lab_nnn_PerformanceIncentivePlanExpense_80F9107314EB475F272AAB7C7A855E9A_terseLabel_en-US" xlink:label="lab_nnn_PerformanceIncentivePlanExpense_80F9107314EB475F272AAB7C7A855E9A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performance incentive plan expense</link:label>
    <link:label id="lab_nnn_PerformanceIncentivePlanExpense_80F9107314EB475F272AAB7C7A855E9A_label_en-US" xlink:label="lab_nnn_PerformanceIncentivePlanExpense_80F9107314EB475F272AAB7C7A855E9A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performance Incentive Plan Expense</link:label>
    <link:label id="lab_nnn_PerformanceIncentivePlanExpense_80F9107314EB475F272AAB7C7A855E9A_documentation_en-US" xlink:label="lab_nnn_PerformanceIncentivePlanExpense_80F9107314EB475F272AAB7C7A855E9A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The aggregate amount of noncash, equity-based and long-term incentive based employee remuneration. This may include the value of stock options, amortization of restricted stock, amortization of long term incentive compensation and adjustment for officers compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_nnn_PerformanceIncentivePlanExpense_80F9107314EB475F272AAB7C7A855E9A" xlink:to="lab_nnn_PerformanceIncentivePlanExpense_80F9107314EB475F272AAB7C7A855E9A" xlink:type="arc" />
    <link:label id="lab_nnn_PerformanceIncentivePlanPayment_FAC3982A855990D75C61AB7C7A85651F_negatedTerseLabel_en-US" xlink:label="lab_nnn_PerformanceIncentivePlanPayment_FAC3982A855990D75C61AB7C7A85651F" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Performance incentive plan payment</link:label>
    <link:label id="lab_nnn_PerformanceIncentivePlanPayment_FAC3982A855990D75C61AB7C7A85651F_label_en-US" xlink:label="lab_nnn_PerformanceIncentivePlanPayment_FAC3982A855990D75C61AB7C7A85651F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performance Incentive Plan Payment</link:label>
    <link:label id="lab_nnn_PerformanceIncentivePlanPayment_FAC3982A855990D75C61AB7C7A85651F_documentation_en-US" xlink:label="lab_nnn_PerformanceIncentivePlanPayment_FAC3982A855990D75C61AB7C7A85651F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Performance Incentive Plan Payment</link:label>
    <link:loc xlink:href="nnn-20140331.xsd#nnn_PerformanceIncentivePlanPayment" xlink:label="loc_nnn_PerformanceIncentivePlanPayment_FAC3982A855990D75C61AB7C7A85651F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_nnn_PerformanceIncentivePlanPayment_FAC3982A855990D75C61AB7C7A85651F" xlink:to="lab_nnn_PerformanceIncentivePlanPayment_FAC3982A855990D75C61AB7C7A85651F" xlink:type="arc" />
    <link:label id="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_8529A970641BF736CB5FAB7C7A856A61_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_8529A970641BF736CB5FAB7C7A856A61" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Noncontrolling interest distributions</link:label>
    <link:label id="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_8529A970641BF736CB5FAB7C7A856A61_label_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_8529A970641BF736CB5FAB7C7A856A61" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:label="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_8529A970641BF736CB5FAB7C7A856A61" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_8529A970641BF736CB5FAB7C7A856A61" xlink:to="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_8529A970641BF736CB5FAB7C7A856A61" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_AA0122441FFBF3AF49CCAB7C7A8677C1_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_AA0122441FFBF3AF49CCAB7C7A8677C1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in operating assets and liabilities, net of assets acquired and liabilities assumed in business combinations:</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_AA0122441FFBF3AF49CCAB7C7A8677C1_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_AA0122441FFBF3AF49CCAB7C7A8677C1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Operating Capital [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_AA0122441FFBF3AF49CCAB7C7A8677C1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_AA0122441FFBF3AF49CCAB7C7A8677C1" xlink:to="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_AA0122441FFBF3AF49CCAB7C7A8677C1" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsToAcquireHeldForSaleRealEstate_3AAF4B095A97F3B39D9AAB7C7A861206_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireHeldForSaleRealEstate_3AAF4B095A97F3B39D9AAB7C7A861206" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Additions to held for sale real estate</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireHeldForSaleRealEstate_3AAF4B095A97F3B39D9AAB7C7A861206_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireHeldForSaleRealEstate_3AAF4B095A97F3B39D9AAB7C7A861206" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Held-for-sale Real Estate</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PaymentsToAcquireHeldForSaleRealEstate" xlink:label="loc_us-gaap_PaymentsToAcquireHeldForSaleRealEstate_3AAF4B095A97F3B39D9AAB7C7A861206" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireHeldForSaleRealEstate_3AAF4B095A97F3B39D9AAB7C7A861206" xlink:to="lab_us-gaap_PaymentsToAcquireHeldForSaleRealEstate_3AAF4B095A97F3B39D9AAB7C7A861206" xlink:type="arc" />
    <link:label id="lab_nnn_IncreaseDecreaseInDirectFinancingAndSalesTypeLeases_33A0AF764516243BF4DCAB7C7A86A844_negatedLabel_en-US" xlink:label="lab_nnn_IncreaseDecreaseInDirectFinancingAndSalesTypeLeases_33A0AF764516243BF4DCAB7C7A86A844" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Decrease in real estate leased to others using the direct financing method</link:label>
    <link:label id="lab_nnn_IncreaseDecreaseInDirectFinancingAndSalesTypeLeases_33A0AF764516243BF4DCAB7C7A86A844_label_en-US" xlink:label="lab_nnn_IncreaseDecreaseInDirectFinancingAndSalesTypeLeases_33A0AF764516243BF4DCAB7C7A86A844" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase Decrease In Direct Financing And Sales Type Leases</link:label>
    <link:label id="lab_nnn_IncreaseDecreaseInDirectFinancingAndSalesTypeLeases_33A0AF764516243BF4DCAB7C7A86A844_documentation_en-US" xlink:label="lab_nnn_IncreaseDecreaseInDirectFinancingAndSalesTypeLeases_33A0AF764516243BF4DCAB7C7A86A844" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The net change during the reporting period consisting of: (a) minimum lease payments due on direct financing and sales-type leases, (b) unguaranteed residual value, and (c) any unamortized initial direct costs on direct financing leases; less: (i) executory costs, (ii) unearned income, and (iii) the accumulated allowance for uncollectible minimum lease payments.</link:label>
    <link:loc xlink:href="nnn-20140331.xsd#nnn_IncreaseDecreaseInDirectFinancingAndSalesTypeLeases" xlink:label="loc_nnn_IncreaseDecreaseInDirectFinancingAndSalesTypeLeases_33A0AF764516243BF4DCAB7C7A86A844" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_nnn_IncreaseDecreaseInDirectFinancingAndSalesTypeLeases_33A0AF764516243BF4DCAB7C7A86A844" xlink:to="lab_nnn_IncreaseDecreaseInDirectFinancingAndSalesTypeLeases_33A0AF764516243BF4DCAB7C7A86A844" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInNotesReceivables_FF61236E169DC17CBA7FAB7C7A86849A_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInNotesReceivables_FF61236E169DC17CBA7FAB7C7A86849A" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Decrease (increase) in mortgages, notes and accrued interest receivable</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInNotesReceivables_FF61236E169DC17CBA7FAB7C7A86849A_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInNotesReceivables_FF61236E169DC17CBA7FAB7C7A86849A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Notes Receivables</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInNotesReceivables" xlink:label="loc_us-gaap_IncreaseDecreaseInNotesReceivables_FF61236E169DC17CBA7FAB7C7A86849A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInNotesReceivables_FF61236E169DC17CBA7FAB7C7A86849A" xlink:to="lab_us-gaap_IncreaseDecreaseInNotesReceivables_FF61236E169DC17CBA7FAB7C7A86849A" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInReceivables_9BC0E059702F9D952A8CAB7C7A87BCFD_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInReceivables_9BC0E059702F9D952A8CAB7C7A87BCFD" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Decrease (increase) in receivables</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInReceivables_9BC0E059702F9D952A8CAB7C7A87BCFD_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInReceivables_9BC0E059702F9D952A8CAB7C7A87BCFD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Receivables</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInReceivables" xlink:label="loc_us-gaap_IncreaseDecreaseInReceivables_9BC0E059702F9D952A8CAB7C7A87BCFD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInReceivables_9BC0E059702F9D952A8CAB7C7A87BCFD" xlink:to="lab_us-gaap_IncreaseDecreaseInReceivables_9BC0E059702F9D952A8CAB7C7A87BCFD" xlink:type="arc" />
    <link:label id="lab_us-gaap_StraightLineRent_2EBC5EDA38C890907DFAAB7C7A8701BD_negatedLabel_en-US" xlink:label="lab_us-gaap_StraightLineRent_2EBC5EDA38C890907DFAAB7C7A8701BD" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Increase in accrued rental income</link:label>
    <link:label id="lab_us-gaap_StraightLineRent_2EBC5EDA38C890907DFAAB7C7A8701BD_label_en-US" xlink:label="lab_us-gaap_StraightLineRent_2EBC5EDA38C890907DFAAB7C7A8701BD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Straight Line Rent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StraightLineRent" xlink:label="loc_us-gaap_StraightLineRent_2EBC5EDA38C890907DFAAB7C7A8701BD" xlink:type="locator" />
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    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_30644FBF9E0468379028AB7C7A876460_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_30644FBF9E0468379028AB7C7A876460" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Decrease in other assets</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_30644FBF9E0468379028AB7C7A876460_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_30644FBF9E0468379028AB7C7A876460" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Other Operating Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_30644FBF9E0468379028AB7C7A876460" xlink:type="locator" />
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    <link:label id="lab_us-gaap_IncreaseDecreaseInInterestPayableNet_191DAEC2069A476D4AD7AB7C7A87E156_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInInterestPayableNet_191DAEC2069A476D4AD7AB7C7A87E156" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase in accrued interest payable</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInInterestPayableNet_191DAEC2069A476D4AD7AB7C7A87E156_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInInterestPayableNet_191DAEC2069A476D4AD7AB7C7A87E156" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Interest Payable, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInInterestPayableNet" xlink:label="loc_us-gaap_IncreaseDecreaseInInterestPayableNet_191DAEC2069A476D4AD7AB7C7A87E156" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInInterestPayableNet_191DAEC2069A476D4AD7AB7C7A87E156" xlink:to="lab_us-gaap_IncreaseDecreaseInInterestPayableNet_191DAEC2069A476D4AD7AB7C7A87E156" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_A95D78EBA50142763D32AB7C7A871603_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_A95D78EBA50142763D32AB7C7A871603" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Decrease in other liabilities</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_A95D78EBA50142763D32AB7C7A871603_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_A95D78EBA50142763D32AB7C7A871603" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Other Operating Liabilities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_A95D78EBA50142763D32AB7C7A871603" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_A95D78EBA50142763D32AB7C7A871603" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_A95D78EBA50142763D32AB7C7A871603" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_BAE5095DDA3F58D36E5CAB7C7A87A6F5_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_BAE5095DDA3F58D36E5CAB7C7A87A6F5" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_BAE5095DDA3F58D36E5CAB7C7A87A6F5_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_BAE5095DDA3F58D36E5CAB7C7A87A6F5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Other Operating Assets and Liabilities, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_BAE5095DDA3F58D36E5CAB7C7A87A6F5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_BAE5095DDA3F58D36E5CAB7C7A87A6F5" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_BAE5095DDA3F58D36E5CAB7C7A87A6F5" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_4AC5EA0C23A588B378FDAB7C7A8755C6_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_4AC5EA0C23A588B378FDAB7C7A8755C6" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by operating activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_4AC5EA0C23A588B378FDAB7C7A8755C6_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_4AC5EA0C23A588B378FDAB7C7A8755C6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_4AC5EA0C23A588B378FDAB7C7A8755C6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_4AC5EA0C23A588B378FDAB7C7A8755C6" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_4AC5EA0C23A588B378FDAB7C7A8755C6" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_88B982DC564B185AFA82AB7C7A873586_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_88B982DC564B185AFA82AB7C7A873586" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from investing activities:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_88B982DC564B185AFA82AB7C7A873586_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_88B982DC564B185AFA82AB7C7A873586" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Investing Activities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_88B982DC564B185AFA82AB7C7A873586" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_88B982DC564B185AFA82AB7C7A873586" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_88B982DC564B185AFA82AB7C7A873586" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_D3806249FC0D494861AAAB7C7A884D84_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_D3806249FC0D494861AAAB7C7A884D84" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from the disposition of real estate</link:label>
    <link:label id="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_D3806249FC0D494861AAAB7C7A884D84_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_D3806249FC0D494861AAAB7C7A884D84" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Sale of Real Estate Held-for-investment</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment" xlink:label="loc_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_D3806249FC0D494861AAAB7C7A884D84" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_D3806249FC0D494861AAAB7C7A884D84" xlink:to="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_D3806249FC0D494861AAAB7C7A884D84" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsToAcquireRealEstateAbstract_16F720CC68A527BFFE73AB7C7A88628C_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireRealEstateAbstract_16F720CC68A527BFFE73AB7C7A88628C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additions to real estate:</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireRealEstateAbstract_16F720CC68A527BFFE73AB7C7A88628C_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireRealEstateAbstract_16F720CC68A527BFFE73AB7C7A88628C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Real Estate [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PaymentsToAcquireRealEstateAbstract" xlink:label="loc_us-gaap_PaymentsToAcquireRealEstateAbstract_16F720CC68A527BFFE73AB7C7A88628C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireRealEstateAbstract_16F720CC68A527BFFE73AB7C7A88628C" xlink:to="lab_us-gaap_PaymentsToAcquireRealEstateAbstract_16F720CC68A527BFFE73AB7C7A88628C" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment_4190BA33645C79C1B1D0AB7C7A889376_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment_4190BA33645C79C1B1D0AB7C7A889376" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Accounted for using the operating method</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment_4190BA33645C79C1B1D0AB7C7A889376_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment_4190BA33645C79C1B1D0AB7C7A889376" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Real Estate Held-for-investment</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PaymentsToAcquireRealEstateHeldForInvestment" xlink:label="loc_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment_4190BA33645C79C1B1D0AB7C7A889376" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment_4190BA33645C79C1B1D0AB7C7A889376" xlink:to="lab_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment_4190BA33645C79C1B1D0AB7C7A889376" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsToAcquireNotesReceivable_515557C86789B7188C0FAB7C7A88C4D5_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireNotesReceivable_515557C86789B7188C0FAB7C7A88C4D5" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Increase in mortgages and notes receivable</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireNotesReceivable_515557C86789B7188C0FAB7C7A88C4D5_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireNotesReceivable_515557C86789B7188C0FAB7C7A88C4D5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Notes Receivable</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PaymentsToAcquireNotesReceivable" xlink:label="loc_us-gaap_PaymentsToAcquireNotesReceivable_515557C86789B7188C0FAB7C7A88C4D5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireNotesReceivable_515557C86789B7188C0FAB7C7A88C4D5" xlink:to="lab_us-gaap_PaymentsToAcquireNotesReceivable_515557C86789B7188C0FAB7C7A88C4D5" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromCollectionOfNotesReceivable_AD4ABDE32ED16BAD705EAB7C7A894DC2_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromCollectionOfNotesReceivable_AD4ABDE32ED16BAD705EAB7C7A894DC2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal payments on mortgages and notes receivable</link:label>
    <link:label id="lab_us-gaap_ProceedsFromCollectionOfNotesReceivable_AD4ABDE32ED16BAD705EAB7C7A894DC2_label_en-US" xlink:label="lab_us-gaap_ProceedsFromCollectionOfNotesReceivable_AD4ABDE32ED16BAD705EAB7C7A894DC2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Collection of Notes Receivable</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromCollectionOfNotesReceivable" xlink:label="loc_us-gaap_ProceedsFromCollectionOfNotesReceivable_AD4ABDE32ED16BAD705EAB7C7A894DC2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromCollectionOfNotesReceivable_AD4ABDE32ED16BAD705EAB7C7A894DC2" xlink:to="lab_us-gaap_ProceedsFromCollectionOfNotesReceivable_AD4ABDE32ED16BAD705EAB7C7A894DC2" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsForLeasingCostsCommissionsAndTenantImprovements_EE602CC26B306C784982AB7C7A899396_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForLeasingCostsCommissionsAndTenantImprovements_EE602CC26B306C784982AB7C7A899396" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Payment of lease costs</link:label>
    <link:label id="lab_us-gaap_PaymentsForLeasingCostsCommissionsAndTenantImprovements_EE602CC26B306C784982AB7C7A899396_label_en-US" xlink:label="lab_us-gaap_PaymentsForLeasingCostsCommissionsAndTenantImprovements_EE602CC26B306C784982AB7C7A899396" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Leasing Costs, Commissions, and Tenant Improvements</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PaymentsForLeasingCostsCommissionsAndTenantImprovements" xlink:label="loc_us-gaap_PaymentsForLeasingCostsCommissionsAndTenantImprovements_EE602CC26B306C784982AB7C7A899396" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForLeasingCostsCommissionsAndTenantImprovements_EE602CC26B306C784982AB7C7A899396" xlink:to="lab_us-gaap_PaymentsForLeasingCostsCommissionsAndTenantImprovements_EE602CC26B306C784982AB7C7A899396" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_4F19DAC2E3CB2EC395E8AB7C7A89B087_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_4F19DAC2E3CB2EC395E8AB7C7A89B087" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_4F19DAC2E3CB2EC395E8AB7C7A89B087_label_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_4F19DAC2E3CB2EC395E8AB7C7A89B087" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for (Proceeds from) Other Investing Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:label="loc_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_4F19DAC2E3CB2EC395E8AB7C7A89B087" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_4F19DAC2E3CB2EC395E8AB7C7A89B087" xlink:to="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_4F19DAC2E3CB2EC395E8AB7C7A89B087" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_511C1B73C823E45AC999AB7C7A89ED02_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_511C1B73C823E45AC999AB7C7A89ED02" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash used in investing activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_511C1B73C823E45AC999AB7C7A89ED02_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_511C1B73C823E45AC999AB7C7A89ED02" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Investing Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_511C1B73C823E45AC999AB7C7A89ED02" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_511C1B73C823E45AC999AB7C7A89ED02" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_511C1B73C823E45AC999AB7C7A89ED02" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_61127C4766EA6DE2D7E6AB7C7A89DFD6_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_61127C4766EA6DE2D7E6AB7C7A89DFD6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from financing activities:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_61127C4766EA6DE2D7E6AB7C7A89DFD6_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_61127C4766EA6DE2D7E6AB7C7A89DFD6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_61127C4766EA6DE2D7E6AB7C7A89DFD6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_61127C4766EA6DE2D7E6AB7C7A89DFD6" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_61127C4766EA6DE2D7E6AB7C7A89DFD6" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromLongTermLinesOfCredit_B51093883EF24A5BE344AB7C7A891AE2_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromLongTermLinesOfCredit_B51093883EF24A5BE344AB7C7A891AE2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from line of credit payable</link:label>
    <link:label id="lab_us-gaap_ProceedsFromLongTermLinesOfCredit_B51093883EF24A5BE344AB7C7A891AE2_label_en-US" xlink:label="lab_us-gaap_ProceedsFromLongTermLinesOfCredit_B51093883EF24A5BE344AB7C7A891AE2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Long-term Lines of Credit</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromLongTermLinesOfCredit" xlink:label="loc_us-gaap_ProceedsFromLongTermLinesOfCredit_B51093883EF24A5BE344AB7C7A891AE2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromLongTermLinesOfCredit_B51093883EF24A5BE344AB7C7A891AE2" xlink:to="lab_us-gaap_ProceedsFromLongTermLinesOfCredit_B51093883EF24A5BE344AB7C7A891AE2" xlink:type="arc" />
    <link:label id="lab_us-gaap_RepaymentsOfLongTermLinesOfCredit_D51865915FE1ADFB34CDAB7C7A89DAA0_negatedLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfLongTermLinesOfCredit_D51865915FE1ADFB34CDAB7C7A89DAA0" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Repayment of line of credit payable</link:label>
    <link:label id="lab_us-gaap_RepaymentsOfLongTermLinesOfCredit_D51865915FE1ADFB34CDAB7C7A89DAA0_label_en-US" xlink:label="lab_us-gaap_RepaymentsOfLongTermLinesOfCredit_D51865915FE1ADFB34CDAB7C7A89DAA0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments of Long-term Lines of Credit</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RepaymentsOfLongTermLinesOfCredit" xlink:label="loc_us-gaap_RepaymentsOfLongTermLinesOfCredit_D51865915FE1ADFB34CDAB7C7A89DAA0" xlink:type="locator" />
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    <link:label id="lab_nnn_SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanValue_3600DD5C1CA0E759F16CAB7C7A8BBA78_label_en-US" xlink:label="lab_nnn_SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanValue_3600DD5C1CA0E759F16CAB7C7A8BBA78" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Supplemental Issued Shares Of Common Stock Pursuant To Performance Incentive Plan Value</link:label>
    <link:label id="lab_nnn_SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanValue_3600DD5C1CA0E759F16CAB7C7A8BBA78_documentation_en-US" xlink:label="lab_nnn_SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanValue_3600DD5C1CA0E759F16CAB7C7A8BBA78" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents value of the Company's common stock issued during the period in connection with share-based compensation.</link:label>
    <link:loc xlink:href="nnn-20140331.xsd#nnn_SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanValue" xlink:label="loc_nnn_SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanValue_3600DD5C1CA0E759F16CAB7C7A8BBA78" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_nnn_SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanValue_3600DD5C1CA0E759F16CAB7C7A8BBA78" xlink:to="lab_nnn_SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanValue_3600DD5C1CA0E759F16CAB7C7A8BBA78" xlink:type="arc" />
    <link:label id="lab_nnn_SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanForDirectorsValue_B3DD01D1D80BF2451F07AB7C7A8B4FFC_terseLabel_en-US" xlink:label="lab_nnn_SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanForDirectorsValue_B3DD01D1D80BF2451F07AB7C7A8B4FFC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issued 3,985 and 4,292 shares of common stock in 2014 and 2013, respectively, to directors pursuant to NNN&#8217;s performance incentive plan</link:label>
    <link:label id="lab_nnn_SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanForDirectorsValue_B3DD01D1D80BF2451F07AB7C7A8B4FFC_label_en-US" xlink:label="lab_nnn_SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanForDirectorsValue_B3DD01D1D80BF2451F07AB7C7A8B4FFC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Supplemental Issued Shares Of Common Stock Pursuant To Performance Incentive Plan For Directors Value</link:label>
    <link:label id="lab_nnn_SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanForDirectorsValue_B3DD01D1D80BF2451F07AB7C7A8B4FFC_documentation_en-US" xlink:label="lab_nnn_SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanForDirectorsValue_B3DD01D1D80BF2451F07AB7C7A8B4FFC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents value of the Company's common stock issued to members of the Company's board of directors during the period in connection with share-based compensation.</link:label>
    <link:loc xlink:href="nnn-20140331.xsd#nnn_SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanForDirectorsValue" xlink:label="loc_nnn_SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanForDirectorsValue_B3DD01D1D80BF2451F07AB7C7A8B4FFC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_nnn_SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanForDirectorsValue_B3DD01D1D80BF2451F07AB7C7A8B4FFC" xlink:to="lab_nnn_SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanForDirectorsValue_B3DD01D1D80BF2451F07AB7C7A8B4FFC" xlink:type="arc" />
    <link:label id="lab_nnn_SupplementalIssuedSharesOfCommonStockPursuantToDeferredDirectorFeePlanValue_DDD800C764D4D1C9BB60AB7C7A8B0F65_terseLabel_en-US" xlink:label="lab_nnn_SupplementalIssuedSharesOfCommonStockPursuantToDeferredDirectorFeePlanValue_DDD800C764D4D1C9BB60AB7C7A8B0F65" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issued 4,162 and 3,227 shares of common stock in 2014 and 2013, respectively, pursuant to NNN&#8217;s Deferred Director Fee Plan</link:label>
    <link:label id="lab_nnn_SupplementalIssuedSharesOfCommonStockPursuantToDeferredDirectorFeePlanValue_DDD800C764D4D1C9BB60AB7C7A8B0F65_label_en-US" xlink:label="lab_nnn_SupplementalIssuedSharesOfCommonStockPursuantToDeferredDirectorFeePlanValue_DDD800C764D4D1C9BB60AB7C7A8B0F65" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Supplemental Issued Shares Of Common Stock Pursuant To Deferred Director Fee Plan Value</link:label>
    <link:label id="lab_nnn_SupplementalIssuedSharesOfCommonStockPursuantToDeferredDirectorFeePlanValue_DDD800C764D4D1C9BB60AB7C7A8B0F65_documentation_en-US" xlink:label="lab_nnn_SupplementalIssuedSharesOfCommonStockPursuantToDeferredDirectorFeePlanValue_DDD800C764D4D1C9BB60AB7C7A8B0F65" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Supplemental, Issued shares of common stock pursuant to Deferred Director Fee Plan, value</link:label>
    <link:loc xlink:href="nnn-20140331.xsd#nnn_SupplementalIssuedSharesOfCommonStockPursuantToDeferredDirectorFeePlanValue" xlink:label="loc_nnn_SupplementalIssuedSharesOfCommonStockPursuantToDeferredDirectorFeePlanValue_DDD800C764D4D1C9BB60AB7C7A8B0F65" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_nnn_SupplementalIssuedSharesOfCommonStockPursuantToDeferredDirectorFeePlanValue_DDD800C764D4D1C9BB60AB7C7A8B0F65" xlink:to="lab_nnn_SupplementalIssuedSharesOfCommonStockPursuantToDeferredDirectorFeePlanValue_DDD800C764D4D1C9BB60AB7C7A8B0F65" xlink:type="arc" />
    <link:label id="lab_nnn_SupplementalChangeInOtherComprehensiveIncome_B971B5D318E30F1C42CFAB7C7A8B9880_terseLabel_en-US" xlink:label="lab_nnn_SupplementalChangeInOtherComprehensiveIncome_B971B5D318E30F1C42CFAB7C7A8B9880" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in other comprehensive income</link:label>
    <link:label id="lab_nnn_SupplementalChangeInOtherComprehensiveIncome_B971B5D318E30F1C42CFAB7C7A8B9880_label_en-US" xlink:label="lab_nnn_SupplementalChangeInOtherComprehensiveIncome_B971B5D318E30F1C42CFAB7C7A8B9880" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Supplemental Change In Other Comprehensive Income</link:label>
    <link:label id="lab_nnn_SupplementalChangeInOtherComprehensiveIncome_B971B5D318E30F1C42CFAB7C7A8B9880_documentation_en-US" xlink:label="lab_nnn_SupplementalChangeInOtherComprehensiveIncome_B971B5D318E30F1C42CFAB7C7A8B9880" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Supplemental change in other comprehensive income</link:label>
    <link:loc xlink:href="nnn-20140331.xsd#nnn_SupplementalChangeInOtherComprehensiveIncome" xlink:label="loc_nnn_SupplementalChangeInOtherComprehensiveIncome_B971B5D318E30F1C42CFAB7C7A8B9880" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_nnn_SupplementalChangeInOtherComprehensiveIncome_B971B5D318E30F1C42CFAB7C7A8B9880" xlink:to="lab_nnn_SupplementalChangeInOtherComprehensiveIncome_B971B5D318E30F1C42CFAB7C7A8B9880" xlink:type="arc" />
    <link:label id="lab_nnn_NoteandMortgageReceivableAcceptedinConnectionwithRealEstateTransactions_D37E5DFAC12FD1D2849BAB7C7A8C0D95_terseLabel_en-US" xlink:label="lab_nnn_NoteandMortgageReceivableAcceptedinConnectionwithRealEstateTransactions_D37E5DFAC12FD1D2849BAB7C7A8C0D95" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Note receivable accepted in connection with real estate transactions</link:label>
    <link:label id="lab_nnn_NoteandMortgageReceivableAcceptedinConnectionwithRealEstateTransactions_D37E5DFAC12FD1D2849BAB7C7A8C0D95_label_en-US" xlink:label="lab_nnn_NoteandMortgageReceivableAcceptedinConnectionwithRealEstateTransactions_D37E5DFAC12FD1D2849BAB7C7A8C0D95" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note and Mortgage Receivable Accepted in Connection with Real EstateTransactions</link:label>
    <link:label id="lab_nnn_NoteandMortgageReceivableAcceptedinConnectionwithRealEstateTransactions_D37E5DFAC12FD1D2849BAB7C7A8C0D95_documentation_en-US" xlink:label="lab_nnn_NoteandMortgageReceivableAcceptedinConnectionwithRealEstateTransactions_D37E5DFAC12FD1D2849BAB7C7A8C0D95" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Note and Mortgage Receivable Accepted in Connection with Real EstateTransactions</link:label>
    <link:loc xlink:href="nnn-20140331.xsd#nnn_NoteandMortgageReceivableAcceptedinConnectionwithRealEstateTransactions" xlink:label="loc_nnn_NoteandMortgageReceivableAcceptedinConnectionwithRealEstateTransactions_D37E5DFAC12FD1D2849BAB7C7A8C0D95" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_nnn_NoteandMortgageReceivableAcceptedinConnectionwithRealEstateTransactions_D37E5DFAC12FD1D2849BAB7C7A8C0D95" xlink:to="lab_nnn_NoteandMortgageReceivableAcceptedinConnectionwithRealEstateTransactions_D37E5DFAC12FD1D2849BAB7C7A8C0D95" xlink:type="arc" />
    <link:label id="lab_nnn_ScheduleOfInvestmentPropertiesTableTextBlock_20BA671E150233237F0DE529054352E3_terseLabel_en-US" xlink:label="lab_nnn_ScheduleOfInvestmentPropertiesTableTextBlock_20BA671E150233237F0DE529054352E3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary Of NNN's Investment Portfolio</link:label>
    <link:label id="lab_nnn_ScheduleOfInvestmentPropertiesTableTextBlock_20BA671E150233237F0DE529054352E3_label_en-US" xlink:label="lab_nnn_ScheduleOfInvestmentPropertiesTableTextBlock_20BA671E150233237F0DE529054352E3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Investment Properties [Table Text Block]</link:label>
    <link:label id="lab_nnn_ScheduleOfInvestmentPropertiesTableTextBlock_20BA671E150233237F0DE529054352E3_documentation_en-US" xlink:label="lab_nnn_ScheduleOfInvestmentPropertiesTableTextBlock_20BA671E150233237F0DE529054352E3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule of number of Investment Property Holdings and gross leasable area and number of states located</link:label>
    <link:loc xlink:href="nnn-20140331.xsd#nnn_ScheduleOfInvestmentPropertiesTableTextBlock" xlink:label="loc_nnn_ScheduleOfInvestmentPropertiesTableTextBlock_20BA671E150233237F0DE529054352E3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_nnn_ScheduleOfInvestmentPropertiesTableTextBlock_20BA671E150233237F0DE529054352E3" xlink:to="lab_nnn_ScheduleOfInvestmentPropertiesTableTextBlock_20BA671E150233237F0DE529054352E3" xlink:type="arc" />
    <link:label id="lab_nnn_ScheduleOfFiniteLivedIntangibleLeaseAssetsAndRelatedAmortizationTableTextBlock_47B7A839D3635CF0F5A3E52905435785_terseLabel_en-US" xlink:label="lab_nnn_ScheduleOfFiniteLivedIntangibleLeaseAssetsAndRelatedAmortizationTableTextBlock_47B7A839D3635CF0F5A3E52905435785" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible Assets and Liabilities</link:label>
    <link:label id="lab_nnn_ScheduleOfFiniteLivedIntangibleLeaseAssetsAndRelatedAmortizationTableTextBlock_47B7A839D3635CF0F5A3E52905435785_label_en-US" xlink:label="lab_nnn_ScheduleOfFiniteLivedIntangibleLeaseAssetsAndRelatedAmortizationTableTextBlock_47B7A839D3635CF0F5A3E52905435785" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Finite-lived Intangible Lease Assets and Related Amortization [Table Text Block]</link:label>
    <link:label id="lab_nnn_ScheduleOfFiniteLivedIntangibleLeaseAssetsAndRelatedAmortizationTableTextBlock_47B7A839D3635CF0F5A3E52905435785_documentation_en-US" xlink:label="lab_nnn_ScheduleOfFiniteLivedIntangibleLeaseAssetsAndRelatedAmortizationTableTextBlock_47B7A839D3635CF0F5A3E52905435785" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule of Finite-lived Intangible Lease Assets and Related Amortization [Table Text Block]</link:label>
    <link:loc xlink:href="nnn-20140331.xsd#nnn_ScheduleOfFiniteLivedIntangibleLeaseAssetsAndRelatedAmortizationTableTextBlock" xlink:label="loc_nnn_ScheduleOfFiniteLivedIntangibleLeaseAssetsAndRelatedAmortizationTableTextBlock_47B7A839D3635CF0F5A3E52905435785" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_nnn_ScheduleOfFiniteLivedIntangibleLeaseAssetsAndRelatedAmortizationTableTextBlock_47B7A839D3635CF0F5A3E52905435785" xlink:to="lab_nnn_ScheduleOfFiniteLivedIntangibleLeaseAssetsAndRelatedAmortizationTableTextBlock_47B7A839D3635CF0F5A3E52905435785" xlink:type="arc" />
    <link:label id="lab_nnn_ScheduleOfComputationOfEarningsPerShareBasicAndDilutedTableTextBlock_510EB253501BFC52FE99E5290543556B_terseLabel_en-US" xlink:label="lab_nnn_ScheduleOfComputationOfEarningsPerShareBasicAndDilutedTableTextBlock_510EB253501BFC52FE99E5290543556B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Computation Of Basic And Diluted Earnings Per Share</link:label>
    <link:label id="lab_nnn_ScheduleOfComputationOfEarningsPerShareBasicAndDilutedTableTextBlock_510EB253501BFC52FE99E5290543556B_label_en-US" xlink:label="lab_nnn_ScheduleOfComputationOfEarningsPerShareBasicAndDilutedTableTextBlock_510EB253501BFC52FE99E5290543556B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Computation Of Earnings Per Share Basic And Diluted [Table Text Block]</link:label>
    <link:label id="lab_nnn_ScheduleOfComputationOfEarningsPerShareBasicAndDilutedTableTextBlock_510EB253501BFC52FE99E5290543556B_documentation_en-US" xlink:label="lab_nnn_ScheduleOfComputationOfEarningsPerShareBasicAndDilutedTableTextBlock_510EB253501BFC52FE99E5290543556B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the calculation of the numerator and denominator used in basic and diluted earnings per share calculation.</link:label>
    <link:loc xlink:href="nnn-20140331.xsd#nnn_ScheduleOfComputationOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:label="loc_nnn_ScheduleOfComputationOfEarningsPerShareBasicAndDilutedTableTextBlock_510EB253501BFC52FE99E5290543556B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_nnn_ScheduleOfComputationOfEarningsPerShareBasicAndDilutedTableTextBlock_510EB253501BFC52FE99E5290543556B" xlink:to="lab_nnn_ScheduleOfComputationOfEarningsPerShareBasicAndDilutedTableTextBlock_510EB253501BFC52FE99E5290543556B" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_E0F9A6C5628C24763BAFE529054317FC_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_E0F9A6C5628C24763BAFE529054317FC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of AOCI</link:label>
    <link:label id="lab_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_E0F9A6C5628C24763BAFE529054317FC_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_E0F9A6C5628C24763BAFE529054317FC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_E0F9A6C5628C24763BAFE529054317FC" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LineOfCreditFacilityAbstract_B718C3083549E4FCBC0BE52904E3DF23_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityAbstract_B718C3083549E4FCBC0BE52904E3DF23" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LineOfCreditFacilityAbstract" xlink:label="loc_us-gaap_LineOfCreditFacilityAbstract_B718C3083549E4FCBC0BE52904E3DF23" xlink:type="locator" />
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    <link:label id="lab_nnn_LineOfCreditFacilitiesTableBlock_D612414FBD408BBD89CDE52904E3AED0_terseLabel_en-US" xlink:label="lab_nnn_LineOfCreditFacilitiesTableBlock_D612414FBD408BBD89CDE52904E3AED0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Line of Credit Payable</link:label>
    <link:label id="lab_nnn_LineOfCreditFacilitiesTableBlock_D612414FBD408BBD89CDE52904E3AED0_label_en-US" xlink:label="lab_nnn_LineOfCreditFacilitiesTableBlock_D612414FBD408BBD89CDE52904E3AED0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line Of Credit Facilities [Table Block]</link:label>
    <link:label id="lab_nnn_LineOfCreditFacilitiesTableBlock_D612414FBD408BBD89CDE52904E3AED0_documentation_en-US" xlink:label="lab_nnn_LineOfCreditFacilitiesTableBlock_D612414FBD408BBD89CDE52904E3AED0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.</link:label>
    <link:loc xlink:href="nnn-20140331.xsd#nnn_LineOfCreditFacilitiesTableBlock" xlink:label="loc_nnn_LineOfCreditFacilitiesTableBlock_D612414FBD408BBD89CDE52904E3AED0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_nnn_LineOfCreditFacilitiesTableBlock_D612414FBD408BBD89CDE52904E3AED0" xlink:to="lab_nnn_LineOfCreditFacilitiesTableBlock_D612414FBD408BBD89CDE52904E3AED0" xlink:type="arc" />
    <link:label id="lab_nnn_NotesPayableTextBlock_928B884DFE651D7264C09938DFBCAF2A_terseLabel_en-US" xlink:label="lab_nnn_NotesPayableTextBlock_928B884DFE651D7264C09938DFBCAF2A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes Payable</link:label>
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    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyNet_C26D89AC8245025B62DA6CCF9D8CA33D_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyNet_C26D89AC8245025B62DA6CCF9D8CA33D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounted for using the operating method, net of accumulated depreciation and amortization</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyNet_C26D89AC8245025B62DA6CCF9D8CA33D_label_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyNet_C26D89AC8245025B62DA6CCF9D8CA33D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RealEstateInvestmentPropertyNet" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyNet_C26D89AC8245025B62DA6CCF9D8CA33D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyNet_C26D89AC8245025B62DA6CCF9D8CA33D" xlink:to="lab_us-gaap_RealEstateInvestmentPropertyNet_C26D89AC8245025B62DA6CCF9D8CA33D" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetInvestmentInDirectFinancingAndSalesTypeLeases_9009B8C18742DE1221286CCF9D8CAC1D_terseLabel_en-US" xlink:label="lab_us-gaap_NetInvestmentInDirectFinancingAndSalesTypeLeases_9009B8C18742DE1221286CCF9D8CAC1D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounted for using the direct financing method</link:label>
    <link:label id="lab_us-gaap_NetInvestmentInDirectFinancingAndSalesTypeLeases_9009B8C18742DE1221286CCF9D8CAC1D_label_en-US" xlink:label="lab_us-gaap_NetInvestmentInDirectFinancingAndSalesTypeLeases_9009B8C18742DE1221286CCF9D8CAC1D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Investment in Direct Financing and Sales Type Leases</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetInvestmentInDirectFinancingAndSalesTypeLeases" xlink:label="loc_us-gaap_NetInvestmentInDirectFinancingAndSalesTypeLeases_9009B8C18742DE1221286CCF9D8CAC1D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetInvestmentInDirectFinancingAndSalesTypeLeases_9009B8C18742DE1221286CCF9D8CAC1D" xlink:to="lab_us-gaap_NetInvestmentInDirectFinancingAndSalesTypeLeases_9009B8C18742DE1221286CCF9D8CAC1D" xlink:type="arc" />
    <link:label id="lab_us-gaap_InventoryRealEstateHeldForSale_78BD107F4CD40967633D6CCF9D8CDD66_terseLabel_en-US" xlink:label="lab_us-gaap_InventoryRealEstateHeldForSale_78BD107F4CD40967633D6CCF9D8CDD66" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate held for sale</link:label>
    <link:label id="lab_us-gaap_InventoryRealEstateHeldForSale_78BD107F4CD40967633D6CCF9D8CDD66_label_en-US" xlink:label="lab_us-gaap_InventoryRealEstateHeldForSale_78BD107F4CD40967633D6CCF9D8CDD66" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inventory, Real Estate, Held-for-sale</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InventoryRealEstateHeldForSale" xlink:label="loc_us-gaap_InventoryRealEstateHeldForSale_78BD107F4CD40967633D6CCF9D8CDD66" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InventoryRealEstateHeldForSale_78BD107F4CD40967633D6CCF9D8CDD66" xlink:to="lab_us-gaap_InventoryRealEstateHeldForSale_78BD107F4CD40967633D6CCF9D8CDD66" xlink:type="arc" />
    <link:label id="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount_C0B58F160763F5E699E16CCF9D8C2FB1_terseLabel_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount_C0B58F160763F5E699E16CCF9D8C2FB1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgages, notes and accrued interest receivable</link:label>
    <link:label id="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount_C0B58F160763F5E699E16CCF9D8C2FB1_label_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount_C0B58F160763F5E699E16CCF9D8C2FB1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans and Leases Receivable, Net Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LoansAndLeasesReceivableNetReportedAmount" xlink:label="loc_us-gaap_LoansAndLeasesReceivableNetReportedAmount_C0B58F160763F5E699E16CCF9D8C2FB1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableNetReportedAmount_C0B58F160763F5E699E16CCF9D8C2FB1" xlink:to="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount_C0B58F160763F5E699E16CCF9D8C2FB1" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestsContinuedToBeHeldByTransferorFairValue_ADF05E7C67C30563FEB26CCF9D8CBAFB_verboseLabel_en-US" xlink:label="lab_us-gaap_InterestsContinuedToBeHeldByTransferorFairValue_ADF05E7C67C30563FEB26CCF9D8CBAFB" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Commercial mortgage residual interests</link:label>
    <link:label id="lab_us-gaap_InterestsContinuedToBeHeldByTransferorFairValue_ADF05E7C67C30563FEB26CCF9D8CBAFB_label_en-US" xlink:label="lab_us-gaap_InterestsContinuedToBeHeldByTransferorFairValue_ADF05E7C67C30563FEB26CCF9D8CBAFB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Transferor's Interests in Transferred Financial Assets, Fair Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InterestsContinuedToBeHeldByTransferorFairValue" xlink:label="loc_us-gaap_InterestsContinuedToBeHeldByTransferorFairValue_ADF05E7C67C30563FEB26CCF9D8CBAFB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestsContinuedToBeHeldByTransferorFairValue_ADF05E7C67C30563FEB26CCF9D8CBAFB" xlink:to="lab_us-gaap_InterestsContinuedToBeHeldByTransferorFairValue_ADF05E7C67C30563FEB26CCF9D8CBAFB" xlink:type="arc" />
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_726CE67B2CBA0218E0236CCF9D8DF1BC_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_726CE67B2CBA0218E0236CCF9D8DF1BC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_726CE67B2CBA0218E0236CCF9D8DF1BC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_726CE67B2CBA0218E0236CCF9D8DF1BC" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_726CE67B2CBA0218E0236CCF9D8DF1BC" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccountsAndNotesReceivableNet_8FCB4049B66BA1D953406CCF9D8D55CD_verboseLabel_en-US" xlink:label="lab_us-gaap_AccountsAndNotesReceivableNet_8FCB4049B66BA1D953406CCF9D8D55CD" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Receivables, net of allowance of $3,069 and $2,822, respectively</link:label>
    <link:label id="lab_us-gaap_AccountsAndNotesReceivableNet_8FCB4049B66BA1D953406CCF9D8D55CD_label_en-US" xlink:label="lab_us-gaap_AccountsAndNotesReceivableNet_8FCB4049B66BA1D953406CCF9D8D55CD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts and Notes Receivable, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AccountsAndNotesReceivableNet" xlink:label="loc_us-gaap_AccountsAndNotesReceivableNet_8FCB4049B66BA1D953406CCF9D8D55CD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsAndNotesReceivableNet_8FCB4049B66BA1D953406CCF9D8D55CD" xlink:to="lab_us-gaap_AccountsAndNotesReceivableNet_8FCB4049B66BA1D953406CCF9D8D55CD" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredRentReceivablesNet_A8FF0E9EB3B10DC3857E6CCF9D8D7863_verboseLabel_en-US" xlink:label="lab_us-gaap_DeferredRentReceivablesNet_A8FF0E9EB3B10DC3857E6CCF9D8D7863" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Accrued rental income, net of allowance of $3,179 and $3,181, respectively</link:label>
    <link:label id="lab_us-gaap_DeferredRentReceivablesNet_A8FF0E9EB3B10DC3857E6CCF9D8D7863_label_en-US" xlink:label="lab_us-gaap_DeferredRentReceivablesNet_A8FF0E9EB3B10DC3857E6CCF9D8D7863" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Rent Receivables, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredRentReceivablesNet" xlink:label="loc_us-gaap_DeferredRentReceivablesNet_A8FF0E9EB3B10DC3857E6CCF9D8D7863" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredRentReceivablesNet_A8FF0E9EB3B10DC3857E6CCF9D8D7863" xlink:to="lab_us-gaap_DeferredRentReceivablesNet_A8FF0E9EB3B10DC3857E6CCF9D8D7863" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredFinanceCostsNet_A6AD4DB2C6175E9558826CCF9D8DC945_verboseLabel_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNet_A6AD4DB2C6175E9558826CCF9D8DC945" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Debt costs, net of accumulated amortization of $12,227 and $20,213, respectively</link:label>
    <link:label id="lab_us-gaap_DeferredFinanceCostsNet_A6AD4DB2C6175E9558826CCF9D8DC945_label_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNet_A6AD4DB2C6175E9558826CCF9D8DC945" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Finance Costs, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredFinanceCostsNet" xlink:label="loc_us-gaap_DeferredFinanceCostsNet_A6AD4DB2C6175E9558826CCF9D8DC945" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredFinanceCostsNet_A6AD4DB2C6175E9558826CCF9D8DC945" xlink:to="lab_us-gaap_DeferredFinanceCostsNet_A6AD4DB2C6175E9558826CCF9D8DC945" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherAssets_CDAE02C9DB9FB2D8D1B66CCF9D8D52F6_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAssets_CDAE02C9DB9FB2D8D1B66CCF9D8D52F6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_OtherAssets_CDAE02C9DB9FB2D8D1B66CCF9D8D52F6_label_en-US" xlink:label="lab_us-gaap_OtherAssets_CDAE02C9DB9FB2D8D1B66CCF9D8D52F6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherAssets" xlink:label="loc_us-gaap_OtherAssets_CDAE02C9DB9FB2D8D1B66CCF9D8D52F6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAssets_CDAE02C9DB9FB2D8D1B66CCF9D8D52F6" xlink:to="lab_us-gaap_OtherAssets_CDAE02C9DB9FB2D8D1B66CCF9D8D52F6" xlink:type="arc" />
    <link:label id="lab_us-gaap_Assets_AF421A99F3B85E8C62996CCF9D8D7A4D_totalLabel_en-US" xlink:label="lab_us-gaap_Assets_AF421A99F3B85E8C62996CCF9D8D7A4D" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total assets</link:label>
    <link:label id="lab_us-gaap_Assets_AF421A99F3B85E8C62996CCF9D8D7A4D_label_en-US" xlink:label="lab_us-gaap_Assets_AF421A99F3B85E8C62996CCF9D8D7A4D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_Assets" xlink:label="loc_us-gaap_Assets_AF421A99F3B85E8C62996CCF9D8D7A4D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Assets_AF421A99F3B85E8C62996CCF9D8D7A4D" xlink:to="lab_us-gaap_Assets_AF421A99F3B85E8C62996CCF9D8D7A4D" xlink:type="arc" />
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_95304435440A4F0EB5316CCF9D8D052E_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_95304435440A4F0EB5316CCF9D8D052E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">LIABILITIES AND EQUITY</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_95304435440A4F0EB5316CCF9D8D052E_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_95304435440A4F0EB5316CCF9D8D052E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities and Equity [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_95304435440A4F0EB5316CCF9D8D052E" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LiabilitiesAbstract_485A1D6965F0B5EE78A36CCF9D8D2B9E_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract_485A1D6965F0B5EE78A36CCF9D8D2B9E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities:</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAbstract_485A1D6965F0B5EE78A36CCF9D8D2B9E_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract_485A1D6965F0B5EE78A36CCF9D8D2B9E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LiabilitiesAbstract" xlink:label="loc_us-gaap_LiabilitiesAbstract_485A1D6965F0B5EE78A36CCF9D8D2B9E" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LineOfCredit_9A5B0509AC82D73320F16CCF9D8DF420_verboseLabel_en-US" xlink:label="lab_us-gaap_LineOfCredit_9A5B0509AC82D73320F16CCF9D8DF420" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Line of credit payable</link:label>
    <link:label id="lab_us-gaap_LineOfCredit_9A5B0509AC82D73320F16CCF9D8DF420_label_en-US" xlink:label="lab_us-gaap_LineOfCredit_9A5B0509AC82D73320F16CCF9D8DF420" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Line of Credit</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LineOfCredit" xlink:label="loc_us-gaap_LineOfCredit_9A5B0509AC82D73320F16CCF9D8DF420" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCredit_9A5B0509AC82D73320F16CCF9D8DF420" xlink:to="lab_us-gaap_LineOfCredit_9A5B0509AC82D73320F16CCF9D8DF420" xlink:type="arc" />
    <link:label id="lab_us-gaap_SecuredDebt_895B9E1A225F7A6530AA6CCF9D8EEAE1_terseLabel_en-US" xlink:label="lab_us-gaap_SecuredDebt_895B9E1A225F7A6530AA6CCF9D8EEAE1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgages payable, including unamortized premium of $115 and $130, respectively</link:label>
    <link:label id="lab_us-gaap_SecuredDebt_895B9E1A225F7A6530AA6CCF9D8EEAE1_label_en-US" xlink:label="lab_us-gaap_SecuredDebt_895B9E1A225F7A6530AA6CCF9D8EEAE1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Debt</link:label>
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    <link:label id="lab_nnn_RealEstateInvestmentFundingCommitmentsRemainingCommitment_4EBC2002E491F76C3176E66A8D5CAC5B_terseLabel_en-US" xlink:label="lab_nnn_RealEstateInvestmentFundingCommitmentsRemainingCommitment_4EBC2002E491F76C3176E66A8D5CAC5B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Remaining commitment</link:label>
    <link:label id="lab_nnn_RealEstateInvestmentFundingCommitmentsRemainingCommitment_4EBC2002E491F76C3176E66A8D5CAC5B_label_en-US" xlink:label="lab_nnn_RealEstateInvestmentFundingCommitmentsRemainingCommitment_4EBC2002E491F76C3176E66A8D5CAC5B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment, Funding Commitments, Remaining Commitment</link:label>
    <link:label id="lab_nnn_RealEstateInvestmentFundingCommitmentsRemainingCommitment_4EBC2002E491F76C3176E66A8D5CAC5B_documentation_en-US" xlink:label="lab_nnn_RealEstateInvestmentFundingCommitmentsRemainingCommitment_4EBC2002E491F76C3176E66A8D5CAC5B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Investment, Funding Commitments, Remaining Commitment</link:label>
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    <link:label id="lab_nnn_NumberOfPropertiesClassifiedAsHeldForSale_6E3CCAC8DB7BECF828B06740CC0D6E59_terseLabel_en-US" xlink:label="lab_nnn_NumberOfPropertiesClassifiedAsHeldForSale_6E3CCAC8DB7BECF828B06740CC0D6E59" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number Of Properties Classified As Held For Sale</link:label>
    <link:label id="lab_nnn_NumberOfPropertiesClassifiedAsHeldForSale_6E3CCAC8DB7BECF828B06740CC0D6E59_label_en-US" xlink:label="lab_nnn_NumberOfPropertiesClassifiedAsHeldForSale_6E3CCAC8DB7BECF828B06740CC0D6E59" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Properties Classified As Held For Sale</link:label>
    <link:label id="lab_nnn_NumberOfPropertiesClassifiedAsHeldForSale_6E3CCAC8DB7BECF828B06740CC0D6E59_documentation_en-US" xlink:label="lab_nnn_NumberOfPropertiesClassifiedAsHeldForSale_6E3CCAC8DB7BECF828B06740CC0D6E59" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Properties Classified As Held For Sale</link:label>
    <link:loc xlink:href="nnn-20140331.xsd#nnn_NumberOfPropertiesClassifiedAsHeldForSale" xlink:label="loc_nnn_NumberOfPropertiesClassifiedAsHeldForSale_6E3CCAC8DB7BECF828B06740CC0D6E59" xlink:type="locator" />
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    <link:label id="lab_us-gaap_InventoryLandHeldForSale_45FAFF11432D930EE8326740CC0DBF8E_terseLabel_en-US" xlink:label="lab_us-gaap_InventoryLandHeldForSale_45FAFF11432D930EE8326740CC0DBF8E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Land and improvements</link:label>
    <link:label id="lab_us-gaap_InventoryLandHeldForSale_45FAFF11432D930EE8326740CC0DBF8E_label_en-US" xlink:label="lab_us-gaap_InventoryLandHeldForSale_45FAFF11432D930EE8326740CC0DBF8E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inventory, Land Held-for-sale</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InventoryLandHeldForSale" xlink:label="loc_us-gaap_InventoryLandHeldForSale_45FAFF11432D930EE8326740CC0DBF8E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InventoryLandHeldForSale_45FAFF11432D930EE8326740CC0DBF8E" xlink:to="lab_us-gaap_InventoryLandHeldForSale_45FAFF11432D930EE8326740CC0DBF8E" xlink:type="arc" />
    <link:label id="lab_nnn_InventoryBuildingHeldForSale_EF94C421853EA3212BBE6740CC0D5E52_terseLabel_en-US" xlink:label="lab_nnn_InventoryBuildingHeldForSale_EF94C421853EA3212BBE6740CC0D5E52" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Building and improvements</link:label>
    <link:label id="lab_nnn_InventoryBuildingHeldForSale_EF94C421853EA3212BBE6740CC0D5E52_label_en-US" xlink:label="lab_nnn_InventoryBuildingHeldForSale_EF94C421853EA3212BBE6740CC0D5E52" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inventory, Building, Held-for-sale</link:label>
    <link:label id="lab_nnn_InventoryBuildingHeldForSale_EF94C421853EA3212BBE6740CC0D5E52_documentation_en-US" xlink:label="lab_nnn_InventoryBuildingHeldForSale_EF94C421853EA3212BBE6740CC0D5E52" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Inventory, Building, Held-for-sale</link:label>
    <link:loc xlink:href="nnn-20140331.xsd#nnn_InventoryBuildingHeldForSale" xlink:label="loc_nnn_InventoryBuildingHeldForSale_EF94C421853EA3212BBE6740CC0D5E52" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_nnn_InventoryBuildingHeldForSale_EF94C421853EA3212BBE6740CC0D5E52" xlink:to="lab_nnn_InventoryBuildingHeldForSale_EF94C421853EA3212BBE6740CC0D5E52" xlink:type="arc" />
    <link:label id="lab_us-gaap_RealEstateHeldforsale_0326867F2F576CB716356740CC0EB4BB_totalLabel_en-US" xlink:label="lab_us-gaap_RealEstateHeldforsale_0326867F2F576CB716356740CC0EB4BB" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Real Estate Held-for-sale</link:label>
    <link:label id="lab_us-gaap_RealEstateHeldforsale_0326867F2F576CB716356740CC0EB4BB_label_en-US" xlink:label="lab_us-gaap_RealEstateHeldforsale_0326867F2F576CB716356740CC0EB4BB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Held-for-sale</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RealEstateHeldforsale" xlink:label="loc_us-gaap_RealEstateHeldforsale_0326867F2F576CB716356740CC0EB4BB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateHeldforsale_0326867F2F576CB716356740CC0EB4BB" xlink:to="lab_us-gaap_RealEstateHeldforsale_0326867F2F576CB716356740CC0EB4BB" xlink:type="arc" />
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_E9A1C8B7C86A108A84236740CC0E1B79_negatedLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_E9A1C8B7C86A108A84236740CC0E1B79" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Less accumulated depreciation and amortization</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_E9A1C8B7C86A108A84236740CC0E1B79_label_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_E9A1C8B7C86A108A84236740CC0E1B79" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property, Accumulated Depreciation</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_E9A1C8B7C86A108A84236740CC0E1B79" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_E9A1C8B7C86A108A84236740CC0E1B79" xlink:to="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_E9A1C8B7C86A108A84236740CC0E1B79" xlink:type="arc" />
    <link:label id="lab_nnn_AccumulatedImpairmentRealEstateHeldForSale_8A0DADB9DBFEDBEA40C36740CC0E7E1A_negatedTerseLabel_en-US" xlink:label="lab_nnn_AccumulatedImpairmentRealEstateHeldForSale_8A0DADB9DBFEDBEA40C36740CC0E7E1A" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Less impairment</link:label>
    <link:label id="lab_nnn_AccumulatedImpairmentRealEstateHeldForSale_8A0DADB9DBFEDBEA40C36740CC0E7E1A_label_en-US" xlink:label="lab_nnn_AccumulatedImpairmentRealEstateHeldForSale_8A0DADB9DBFEDBEA40C36740CC0E7E1A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Impairment Real Estate Held For Sale</link:label>
    <link:label id="lab_nnn_AccumulatedImpairmentRealEstateHeldForSale_8A0DADB9DBFEDBEA40C36740CC0E7E1A_documentation_en-US" xlink:label="lab_nnn_AccumulatedImpairmentRealEstateHeldForSale_8A0DADB9DBFEDBEA40C36740CC0E7E1A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accumulated Impairment Real Estate Held For Sale</link:label>
    <link:loc xlink:href="nnn-20140331.xsd#nnn_AccumulatedImpairmentRealEstateHeldForSale" xlink:label="loc_nnn_AccumulatedImpairmentRealEstateHeldForSale_8A0DADB9DBFEDBEA40C36740CC0E7E1A" xlink:type="locator" />
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    <link:label id="lab_us-gaap_InventoryRealEstateHeldForSale_0B1F166618DAFDC4949C6740CC0E1911_totalLabel_en-US" xlink:label="lab_us-gaap_InventoryRealEstateHeldForSale_0B1F166618DAFDC4949C6740CC0E1911" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Inventory, Real Estate, Held-for-sale</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InventoryRealEstateHeldForSale" xlink:label="loc_us-gaap_InventoryRealEstateHeldForSale_0B1F166618DAFDC4949C6740CC0E1911" xlink:type="locator" />
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    <link:label id="lab_nnn_ConvertibleNotesPayableTextBlock_ADD70D048CEDCFA682869938DEC247BA_terseLabel_en-US" xlink:label="lab_nnn_ConvertibleNotesPayableTextBlock_ADD70D048CEDCFA682869938DEC247BA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes Payable &#8211; Convertible</link:label>
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    <link:loc xlink:href="nnn-20140331.xsd#nnn_ConvertibleNotesPayableTextBlock" xlink:label="loc_nnn_ConvertibleNotesPayableTextBlock_ADD70D048CEDCFA682869938DEC247BA" xlink:type="locator" />
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    <link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_D50D38C207FEE6F8B855E529046DA4AD_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock_D50D38C207FEE6F8B855E529046DA4AD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Measurements</link:label>
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    <link:label id="lab_us-gaap_ConsolidationPolicyTextBlock_DEDFC8F7B30E48EDBC3828B9838394CE_terseLabel_en-US" xlink:label="lab_us-gaap_ConsolidationPolicyTextBlock_DEDFC8F7B30E48EDBC3828B9838394CE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principles of Consolidation</link:label>
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    <link:label id="lab_us-gaap_RealEstatePolicyTextBlock_57B40A90C804EA42830028B9838329FB_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstatePolicyTextBlock_57B40A90C804EA42830028B9838329FB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate Portfolio</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RealEstatePolicyTextBlock" xlink:label="loc_us-gaap_RealEstatePolicyTextBlock_57B40A90C804EA42830028B9838329FB" xlink:type="locator" />
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    <link:label id="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_E8C963E77EA45B58DC9A28B983830B4B_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_E8C963E77EA45B58DC9A28B983830B4B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_E8C963E77EA45B58DC9A28B983830B4B_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_E8C963E77EA45B58DC9A28B983830B4B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:label="loc_us-gaap_CashAndCashEquivalentsPolicyTextBlock_E8C963E77EA45B58DC9A28B983830B4B" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ReceivablesPolicyTextBlock_4BF23C5C7A266755BA8828B983834D42_terseLabel_en-US" xlink:label="lab_us-gaap_ReceivablesPolicyTextBlock_4BF23C5C7A266755BA8828B983834D42" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Valuation of Receivables</link:label>
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    <link:label id="lab_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseAxis_45FF55FA7ED9A074439AE66A8D6DFD43_label_en-US" xlink:label="lab_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseAxis_45FF55FA7ED9A074439AE66A8D6DFD43" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property Subject to or Available for Operating Lease [Axis]</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PropertySubjectToOperatingLeaseMember" xlink:label="loc_us-gaap_PropertySubjectToOperatingLeaseMember_0518D1357770E0705869E66A8D6DDB6E" xlink:type="locator" />
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_E51FA95B2F30AE694242E529053D2145_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_E51FA95B2F30AE694242E529053D2145" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets by Major Class [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_E51FA95B2F30AE694242E529053D2145" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_E51FA95B2F30AE694242E529053D2145" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_E51FA95B2F30AE694242E529053D2145" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_A3C62FA83111B80ED92EE529053D2502_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_A3C62FA83111B80ED92EE529053D2502" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Major Class Name [Domain]</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_A3C62FA83111B80ED92EE529053D2502_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_A3C62FA83111B80ED92EE529053D2502" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Major Class Name [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_A3C62FA83111B80ED92EE529053D2502" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_A3C62FA83111B80ED92EE529053D2502" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_A3C62FA83111B80ED92EE529053D2502" xlink:type="arc" />
    <link:label id="lab_nnn_LeasesAcquiredAboveInPlaceMember_35BF89EE2B9ED8D4DB7AE529053D5459_terseLabel_en-US" xlink:label="lab_nnn_LeasesAcquiredAboveInPlaceMember_35BF89EE2B9ED8D4DB7AE529053D5459" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Value of above market in-place leases, net</link:label>
    <link:label id="lab_nnn_LeasesAcquiredAboveInPlaceMember_35BF89EE2B9ED8D4DB7AE529053D5459_label_en-US" xlink:label="lab_nnn_LeasesAcquiredAboveInPlaceMember_35BF89EE2B9ED8D4DB7AE529053D5459" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leases, Acquired, Above In-Place [Member]</link:label>
    <link:label id="lab_nnn_LeasesAcquiredAboveInPlaceMember_35BF89EE2B9ED8D4DB7AE529053D5459_documentation_en-US" xlink:label="lab_nnn_LeasesAcquiredAboveInPlaceMember_35BF89EE2B9ED8D4DB7AE529053D5459" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Leases, Acquired, In-Place [Member]</link:label>
    <link:loc xlink:href="nnn-20140331.xsd#nnn_LeasesAcquiredAboveInPlaceMember" xlink:label="loc_nnn_LeasesAcquiredAboveInPlaceMember_35BF89EE2B9ED8D4DB7AE529053D5459" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_nnn_LeasesAcquiredAboveInPlaceMember_35BF89EE2B9ED8D4DB7AE529053D5459" xlink:to="lab_nnn_LeasesAcquiredAboveInPlaceMember_35BF89EE2B9ED8D4DB7AE529053D5459" xlink:type="arc" />
    <link:label id="lab_us-gaap_LeasesAcquiredInPlaceMember_3C96264A3DC3957FDA2CE529053E7531_terseLabel_en-US" xlink:label="lab_us-gaap_LeasesAcquiredInPlaceMember_3C96264A3DC3957FDA2CE529053E7531" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Value of in-place leases, net</link:label>
    <link:label id="lab_us-gaap_LeasesAcquiredInPlaceMember_3C96264A3DC3957FDA2CE529053E7531_label_en-US" xlink:label="lab_us-gaap_LeasesAcquiredInPlaceMember_3C96264A3DC3957FDA2CE529053E7531" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leases, Acquired-in-Place [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LeasesAcquiredInPlaceMember" xlink:label="loc_us-gaap_LeasesAcquiredInPlaceMember_3C96264A3DC3957FDA2CE529053E7531" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeasesAcquiredInPlaceMember_3C96264A3DC3957FDA2CE529053E7531" xlink:to="lab_us-gaap_LeasesAcquiredInPlaceMember_3C96264A3DC3957FDA2CE529053E7531" xlink:type="arc" />
    <link:label id="lab_us-gaap_LeasesAcquiredInPlaceMarketAdjustmentMember_658F88B79100FBDFEEDFE529053E3214_terseLabel_en-US" xlink:label="lab_us-gaap_LeasesAcquiredInPlaceMarketAdjustmentMember_658F88B79100FBDFEEDFE529053E3214" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Value of below market in-place leases, net</link:label>
    <link:label id="lab_us-gaap_LeasesAcquiredInPlaceMarketAdjustmentMember_658F88B79100FBDFEEDFE529053E3214_label_en-US" xlink:label="lab_us-gaap_LeasesAcquiredInPlaceMarketAdjustmentMember_658F88B79100FBDFEEDFE529053E3214" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leases, Acquired-in-Place, Market Adjustment [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LeasesAcquiredInPlaceMarketAdjustmentMember" xlink:label="loc_us-gaap_LeasesAcquiredInPlaceMarketAdjustmentMember_658F88B79100FBDFEEDFE529053E3214" xlink:type="locator" />
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems_711088AB17EB3EF4CC2EE529053E6381_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems_711088AB17EB3EF4CC2EE529053E6381" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsLineItems_711088AB17EB3EF4CC2EE529053E6381" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsLineItems_711088AB17EB3EF4CC2EE529053E6381" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems_711088AB17EB3EF4CC2EE529053E6381" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_BE171BED743BF40CA125E529053E4B8A_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet_BE171BED743BF40CA125E529053E4B8A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible lease assets (included in Other assets):</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_BE171BED743BF40CA125E529053E4B8A_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet_BE171BED743BF40CA125E529053E4B8A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet_BE171BED743BF40CA125E529053E4B8A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet_BE171BED743BF40CA125E529053E4B8A" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsNet_BE171BED743BF40CA125E529053E4B8A" xlink:type="arc" />
    <link:label id="lab_us-gaap_OffMarketLeaseUnfavorable_6E1B3659C606EF6022C2E529053EF8BB_terseLabel_en-US" xlink:label="lab_us-gaap_OffMarketLeaseUnfavorable_6E1B3659C606EF6022C2E529053EF8BB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible lease liabilities (included in Other liabilities):</link:label>
    <link:label id="lab_us-gaap_OffMarketLeaseUnfavorable_6E1B3659C606EF6022C2E529053EF8BB_label_en-US" xlink:label="lab_us-gaap_OffMarketLeaseUnfavorable_6E1B3659C606EF6022C2E529053EF8BB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Off-market Lease, Unfavorable</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OffMarketLeaseUnfavorable" xlink:label="loc_us-gaap_OffMarketLeaseUnfavorable_6E1B3659C606EF6022C2E529053EF8BB" xlink:type="locator" />
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    <link:label id="lab_nnn_ScheduleOfDebtInstrumentInterestExpenseTableTextBlock_624F7E7628ED6BC1BBB49938DEC200AD_verboseLabel_en-US" xlink:label="lab_nnn_ScheduleOfDebtInstrumentInterestExpenseTableTextBlock_624F7E7628ED6BC1BBB49938DEC200AD" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Debt Instrument Interest Expense</link:label>
    <link:label id="lab_nnn_ScheduleOfDebtInstrumentInterestExpenseTableTextBlock_624F7E7628ED6BC1BBB49938DEC200AD_label_en-US" xlink:label="lab_nnn_ScheduleOfDebtInstrumentInterestExpenseTableTextBlock_624F7E7628ED6BC1BBB49938DEC200AD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Debt Instrument Interest Expense [Table Text Block]</link:label>
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    <link:label id="lab_us-gaap_LineOfCreditFacilityTable_81215DEC46468925E4B0E52904DB02D0_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityTable_81215DEC46468925E4B0E52904DB02D0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Line of Credit Facility [Table]</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityTable_81215DEC46468925E4B0E52904DB02D0_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityTable_81215DEC46468925E4B0E52904DB02D0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LineOfCreditFacilityTable" xlink:label="loc_us-gaap_LineOfCreditFacilityTable_81215DEC46468925E4B0E52904DB02D0" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LineOfCreditMember_09B68C250C73DC51FF66E52904DBBC91_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditMember_09B68C250C73DC51FF66E52904DBBC91" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Line of Credit</link:label>
    <link:label id="lab_us-gaap_LineOfCreditMember_09B68C250C73DC51FF66E52904DBBC91_label_en-US" xlink:label="lab_us-gaap_LineOfCreditMember_09B68C250C73DC51FF66E52904DBBC91" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LineOfCreditMember" xlink:label="loc_us-gaap_LineOfCreditMember_09B68C250C73DC51FF66E52904DBBC91" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LineOfCreditFacilityLineItems_07902E76B4A0065F8FBBE52904DC635A_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityLineItems_07902E76B4A0065F8FBBE52904DC635A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Line of Credit Facility [Line Items]</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityLineItems_07902E76B4A0065F8FBBE52904DC635A_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityLineItems_07902E76B4A0065F8FBBE52904DC635A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LineOfCreditFacilityLineItems" xlink:label="loc_us-gaap_LineOfCreditFacilityLineItems_07902E76B4A0065F8FBBE52904DC635A" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_63107E5E50BA0A1C37FDE52904DC1FBC_verboseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_63107E5E50BA0A1C37FDE52904DC1FBC" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Revolving credit facility borrowing capacity</link:label>
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