Here are some quick thoughts from this years Net Lease Conference in NYC:
- Major trend among public entities continues to focus on entity consolidation and portfolio acquisitions.
- Availability of capital for investment in net-leased property is plentiful and growing.
- Volume of deals is approaching pre-recession record levels.
- Supply of net leased product continues to be limited.
- Even with supply constraints, most attendees were having good year and anticipate that it will continue through at least 2014.
- Widespread concern about rising interest rates, although impact on transactions hasn't been felt.
- Sale-leaseback interest by owners has dramatically increased, potentially caused by concern about rising interest rates.
- A number of firms offer sale-leaseback/build-to-suit programs.
- Potential impact of FASB accounting rule changes doesn't seem to be a factor in transaction flow.
- Investors still looking for lease terms in excess of 10 years.
- Easy Scaleability on NNN market to grow market share.
- In next 12-24 months, you will see consolidation of the top ten largest REITs...why...all doing the same acquisitions on various product type, office, retail & industrial
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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.
