Single-Tenant Net Lease Deals Soared 26% in Q1

In Q1 2024, single-tenant net lease market continued its consistent performance, according to Northmarq, with investment sales activity soaring by 26% from the prior quarter with levels to $11.2 billion. And while this represents a slight 4.5% decline compared to this time last year, these first three months of 2024 put the market on a promising trajectory to surpass 2023’s total.

Average cap rates for the combined net lease sector increased 20 basis points during Q1 to 6.50% – the highest average seen since mid-year 2015, according to Northmarq’s report.