"It's very fun being a seller lately, not as much fun being a buyer," Howard Sands, founding principal of Corporate Partners Capital Group, said. "It's a very lumpy business." Brian Scott, senior managing director for CB Richard Ellis, noted that he's seen a lot of bidders participating in each deal.

Olson also expects that if rates continue to rise and the economy grows, the retail sector will look to the sale-leaseback market. Other sectors he feels are ripe for sale-leasebacks include utility and not for profits. "Utilities are cash poor, land rich. And with the not for profits, there's a better use of funds than sitting on property." Scott commented, "It's a sellers' market. I don't see that equilibrium changing anytime soon."