Single-Tenant and Net Lease Deals Slow
Single-tenant net lease (STNL) volume faced more headwinds than the market overall. The reduction of 1031 capital and institutional buyers hitting the pause button caused sales volume to fall. Much of the STNL business is dictated by financing, and with rising borrowing costs, the market has cooled. Investment sales figures dropped 25% on the year, higher than the 15% decline seen for all asset sales. STNL volume fell each quarter of 2022, with the second half posting volume just 48% of that seen in 2021.
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