Net Lease

Dollar transaction volume in the quarter was down 17.4% and cap rates were off by 63 basis points year over year.

Improved sentiment driven by Fed's accommodative signals, decline in bond yields versus October 2023 peak.

Demand for office space has grown for over 12 months, ending the three months through June up 17% year-over-year.

Law firms and financial sector companies dominated "high-rise" leases and paid highest rents.

Some support is coming from existing investor Mirasol Capital

Sales were 34% under the average second-quarter volume between 2015 and 2019.

Overall, market continues to lose occupancy, driven by tenants downsizing expiring leases.

Flint, Mich., topped the list with 114% growth in high-tech wages.