Single-tenant net leased asset sales velocity hit a new high since the COVID lockdowns began in March, according to The September 2020 NNN Market Intelligence Report Chris Pappas, associate director with Marcus & Millichap's Net Lease Division.
Total STNL sales rose 20% by 66 transactions between August and September, jumping from 328 to 394. While investors continue to flock to small price-point essential properties, investors showed an interest in tenants (including big box stores) that had previously been lagging due to the uncertain economic COVID landscape.
"The 20% increase in transactions was substantial," Pappas says. "We went from 328 to 394, which demonstrates that people are starting to feel more comfortable and people are more willing to be active. They don't want to miss out on opportunities that are presenting themselves right now."
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
