The Midwest market has been largely ignored by the triple net leased (NNN) investor pool mainly due to lack of professionals focused on the area and the focus placed on prime sites in cities such as New York and Washington DC. However, as the macroeconomic outlook is improving in primary markets and inventory of prime assets still low, the Midwest is now seeing an uptick in investment grade credit tenants seeking new markets that have the demographics to support expansion. This in turn, has led to greater investor interest in the area.
There are new opportunities in the Midwest as investors who initially competed for the primary market assets are now seeking alternatives in the Midwest for the same credit at a discount. The Midwest is perfectly situated to provide fertile new ground for credit tenant expansion and new investment opportunities for the heavily in-demand net lease market.
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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.
