For the sixth consecutive quarter, investment sales in the single-tenant net lease sector declined, hitting just $9.4 billion in the second quarter, according to a Northmarq report.
Although this represents a "modest decline" from the $10.9 billion sold in the first quarter, it constitutes a 54% slump year-over-year, the report noted, "suggesting more than a just summer slowdown."
The sales drop-off is occurring after several years in which demand outstripped available supply. Northmarq attributes the trend to rising interest rates and tighter lending standards.
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