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Posted July 7th 2015
CCIM Members Report Lower Cap Rates and Higher Rents for Retail Transactions
More than half of transaction survey respondents reported lower retail cap rates.
Members of the CCIM Institute, Commercial Real Estate’s Global Standard for Professional Achievement, indicated growing interest in retail investment properties, according to the organization’s 2Q15 Quarterly Market Trends report. Approximately 55 percent of CCIM members who participated in a May 2015 market intelligence survey reported lower capitalization rates on retail transactions than during the same period last year. The average national retail cap rate as reported by CCIM member respondents was 7.8 percent, substantially lower than the average national cap rate for all CCIM transactions of 8.5 percent. Retail transactions increased for 55 percent of CCIMs surveyed, with a 94 percent closing rate.
The lower retail cap rates reflect the tight market activity in the single-tenant net lease retail sector, according to CCIMs active in the net lease market. “It’s very hectic, with cap rates continuing to compress in the lower credit tranches,” said Camille Renshaw, CCIM, senior director and lead broker for the New York City office of Stan Johnson Co. “Many buyers are finally able to sell lower credit deals or weaker assets they held through the recession; they are bringing their 1031 exchange dollars to our sector, creating intense demand for product.”
– See more at: http://www.ccim.com/newscenter/323904/2015/07/07/ccim-members-report-lower-cap-rates-and-higher-rents-retail-transaction?utm_source=MagnetMail&utm_medium=email&utm_term=WalterUnger@ccim.net&utm_content=2015%2D7%2D7%5Finsider&utm_campaign=CCIM%20Insider%20%2D%20News%20for%20INSERT%5FFIRST%5FNAME#sthash.t5sdG76p.dpuf
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