Overall, the C-Store sector performed above average compared to other major property types throughout the recession. In the depths of 2008-2009, all property types struggled with valuations and sales, however today the market has rebounded quite well. Further, as gasoline remains a staple of the American consumer, C-stores have been a popular target for “necessity based” retail type investors, similar to pharmacy and grocery store sites. With rental increases either annually or every 5 years a fairly standard term in C-store leases, current owners have been able to achieve real appreciation in the value of their property through the combination of rental growth and cap rate compression.
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Jonathan Hipp
Jonathan Hipp began his career in real estate over 25 years ago. In his early years as a broker, he ventured into the net lease industry and quickly began leading the US net lease market, closing over $3 billion in transactions. In 2005, Jon founded Calkain Companies, a company focused solely on net lease investment services. As President and CEO, he has been instrumental in building the firm into one of the leading Net Lease real estate companies, transacting over $12 billion of net lease deal volume over the past 13 years. He has expanded Calkain’s services to include brokerage, advisory, asset management, capital markets, and industry research. He has become a well-known resource, panelist, and speaker at various Net Lease and Industry conferences and is a regular contributor to GlobeSt.com on real estate trends. In June 2015, Jon’s passion for the real estate business was again recognized as he was nominated for the Top Real Estate Player in the DC area by SmartCEO magazine.
