The net lease retail sector continues to outperform despite changing interest rates, with a growing number of retailers expanding their footprints or developing new properties against a "compelling" cap rate environment.
That's according to Michael Fitzgerald, executive director, head of US Retail, W. P. Carey, who told GlobeSt at ICSC Las Vegas that many retailers are "aggressively expanding" in their markets.
"We've seen a lot of activity in sale-leaseback and we are bullish on net lease retail," Fitzgerald says. "The retail sector is enormous – and we're chasing deals."
Fitzgerald also discusses:
- The state of retail fundamentals
- How investors are responding to changing interest rates and economic uncertainty
- What makes W. P. Carey stand out from its competitors in terms of investment opportunities
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