Net lease transaction volumes total $44.1 billion in 2018, with the industrial sector becoming the most active asset class. So says a recent report from JLL, which also said that investors are continuing to target both assets in secondary and tertiary markets with private investors remaining the most prominent buyer type in the sector.

Cap rates for net lease assets are also slated to mark some uptick after hovering around historic lows, the JLL report said. A report from the Boulder Group said that cap rates in the single tenant net lease retail sector, for example, remained unchanged (6.25%) in the fourth quarter of 2018 when compared to the prior quarter and that cap rates for the office and industrial sectors increased by 2 and 5 basis points respectively. “As the Federal Reserve continues to implement its monetary policy there is investor expectation that cap rates should trend upward in 2019.”

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