The single-tenant net lease (STNL) market has seen a "remarkable quarter-over-quarter surge in supply," says a new report from investment brokerage firm B+E. But that's far from all good news.
"In Q2 of 2023, there were 3,286 properties listed on the market," they wrote. "By Q3, this number increased significantly to 3,905 properties, representing an increase of almost 19% quarter-over-quarter."
The third quarter saw an additional 1,236 properties brought to market — 31.7% of the current supply. But the influx isn't necessarily good news. The new stock is racing in at double the rate as older stock is going off the market, and 15.3% of the current supply has been on the market for more than a year.
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