I’ve managed to convince my wife that somewhere in the Bible it says,
‘Man cannot have too many shotguns and fishing poles.’
Norman Schwarzkopf
Apr 4, 2013Randy Blankstein
Cap rates for the single tenant net leased market remained near historic lows for retail, office and industrial sectors in the first quarter of 2013. Cap rates for net lease office and industrial properties declined while retail cap rates remained at 2012 fourth quarter levels.
Regardless of the decline in cap rates for office and industrial properties, net lease retail properties remain priced at a 45 and 77 basis point premium over office and industrial properties respectively. Properties occupied by credit tenants with long term leases experienced the greatest compression in the first quarter of 2013.
Limited supply of properties, specifically new construction, continues to be a major theme throughout the net lease industry. Overall property supply across the entire net lease sector decreased by more than 17 percent from the fourth quarter of 2012 to the first quarter of 2013. In the first quarter of 2013, the supply of net lease retail properties reached their lowest point in the past two years, while the supply of office and industrial properties reached their lowest point in the past three years.
Despite the scarce property supply in the first quarter of 2013, the median asking versus closed cap rate spread for net leased retail and office properties rose. This can be attributed to an increasing number of owners of properties with short term leases trying to capitalize on the high investor demand for single tenant properties with long term leases. There is a greater spread between the asking and closing price for short term leased properties as rollover risk and residual property valuation underwriting varies greatly per property.
The national single tenant net lease market should remain active throughout 2013 due to the stability and financing availability of this asset class. According to a national survey conducted by The Boulder Group, the majority of active net lease participants are expecting 2013 cap rates to remain unchanged or decline.
The largest portion of participants (37 percent) are expecting cap rates to decrease by less than 24 basis points by the end of 2013. As the majority of net lease participants expect cap rates to decline further in 2013, properties with long term leases will be more difficult to find as many current owners will hold given the attractive refinance rates available.
A shrinking supply and a limited development pipeline will make newly constructed assets in the highest demand and command the lowest cap rates.
http://nreionline.com/commentary/net-lease-market-remains-white-hot
A little about me and my expertise – video
commercial / investment real estate / Arizona land specialist
https://www.youtube.com/watch?v=PPs3kpKR4nY
I go to great heights to sell or purchase your land
http://walter-unger.com/?p=10118
http://en.wikipedia.org/wiki/Timeline_of_Phoenix,_Arizona_history
3
Facts of Arizona – year 1848 to 2013
http://walter-unger.com/?p=9507
4.
Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Investment Properties in Phoenix.
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Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial Investment Real Estate Broker in Arizona now for 20 years and I worked with banks and their commercial REO properties for 3 years. I am also a commercial landspecialist in Phoenix and a Landspecialist in Arizona.
WHETHER YOU LEASE OR OWN
NOW IS THE TIME FOR YOU TO EXPAND, UPGRADE OR INVEST.
we are at on the a rise of the cycle in Commercial Real Estate. so there is only one way and it’s called we are going up and now is the time for you to expand, upgrade or invest in Commercial Properties in Phoenix. The prices on deals I may get you will not be around forever.
WAITING TO SELL YOUR LAND ? TIMES CHANGE / IT’S TIME
We barely could give land away the last few years, but times are changing. Even in those meager years, I sold more land across the state than most other brokers. Before the real estate crash I was a land specialist in Arizona with millions of dollars of transactions, but then I had to change and also sell other commercial investment properties, which was fun, but I am a Commercial Landspecialist in Arizonal, a Commercial Land Specialist in Phoenix and love to sell land, one acre to thousands of acres.
If you have any questions about Commercial Investment Properties in Phoenix or Commercial Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion in Commercial Properties in Phoenix or Commercial Properties in Arizona with you.Obviously I am also in this to make money, but it could be a win-win situation for all of us.
Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207 or Office:480-948-5554
PLEASE NOTE, I CHANGED BROKERAGES BUT CELL PHONE AND E-MAIL STAY THE SAME.
Thank You
Walter
Walter Unger CCIM
Associate Broker, West USA Commercial Real Estate Advisers
7077 E. Marilyn Road, Bldg 4, Suite 130
Scottsdale, AZ 85254
Cell: 520-975-5207
Office : 480-948-5554
Fax: (480-658-1172
View my listings and my profile at:
http://www.loopnet.com/Profile/14101172900/Walter-Unger-CCIM/
a little about me and my expertise – video
commercial-investment real estate adviser-land specialist
https://www.youtube.com/watch?v=PPs3kpKR4nY
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