Single-tenant net lease (STNL) remains a “compelling investment opportunity” coming into 2025 after a strong 2024, said Colliers in a report for the second half of 2024.
“Despite an uptick in retailer bankruptcies and store closures, the U.S. retail market demonstrated strong stability, with the national vacancy rate holding steady at 4.1% by year-end,” it wrote.
Between the first and second half, sales volume dropped by 13% to $5.2 billion and the median cap rate rose by 40 basis points to 6.9%. At the same time, the median price per square foot rose to $286.
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