Right now, bigger isn't necessarily better in net lease. During a COVID flight to safety, investors stayed away from portfolios. Those transactions decreased from 18% in the first quarter of 2020 to approximately 14.5% in the first quarter of this year, according to Marcus & Millichap.

M&M says buyers are much more focused on creditworthiness rather than acquiring large groups of properties. However, when it becomes apparent what retailers are surviving, portfolio sales should pick up.

Even if portfolios aren't selling, prices are inching up. Easy access to capital and low-interest rates helped push the price of single-tenant properties up 0.7% nationwide. With investors targeting creditworthy tenants, the average first-year return dipped ten basis points to 6.1%. The spread between interest rates and cap rates is wide. In fact, M&M says purchasing a single-tenant property is among the strongest returns available.