Single-Tenant Net Lease Retail Report

Transactions of single-tenant net lease retail assets improved markedly in 2025 after higher interest rates weighed on trading in 2023 and 2024. Private investors drove this activity, with both the number of individual property sales and portfolio deals increasing in 2025. While larger geopolitical events may disrupt borrowing costs in the near future, generally favorable operations and the unique characteristics of STNL Retail aid the investment prospectus.

Key Features Include:

• Analysis of historical investment sales activity for STNL Retail
• Details on the role of tenant credit quality and remaining lease term on cap rate conditions
• Examination of the spread between interest rates and cap rates
• Breakdown of sales activity by tenant type and deal type