Newmark's report on net lease transactions in the second quarter of 2024 showed a 14.71% slowdown from the same period in 2023. The dollar volume dropped from $10.74 billion to $8.93 billion, according to the analysis of data from Real Capital Analytics.

Counting the number of transactions rather than the dollar volume showed a 6.49% drop from 832 in 2023 Q2 to 778 this year. That suggests average deals dropped further in the price for the dollar volume to drop faster than the deal number.

Net lease share of total transaction volume was 20.59% in the second quarter of 2024 on a rolling four-quarter average. That's a 270-basis-point reduction from the same period in 2023. And sale-leaseback as a percentage of total net lease was 16.17% in 2023 Q2 compared with 13.62% in 2024 Q2.