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LAS VEGAS—GlobeSt.com was out in full force at the StanJohnson Co. party on Tuesday night at ICSC's RECon event,where Sam Alison, west region director, based inthe firm's L.A. office, noted that the west coast net lease retailmarket is robust. According to Alison, “retail property sales inWestern states during the 12 months ending March 31, 2014, were upapproximately 200%—three times greater—as compared to the sameperiod three years earlier.”
As of March 31, 2014, he tells GlobeSt.com, the average cap ratepaid for retail properties in the West was 6.6%, lower by 105 b.p.compared to three years earlier. “West Coast-based investorsare very active. Research shows that 45% of all net leaseretail properties sold nationwide in 2013 were purchased by buyersfrom Arizona and California. Sellers from all markets shouldtap into this buyer pool.”
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