During the state of the market panel at the recent GlobeSt. net lease national fall event, panelists agreed that we are in a period of price discovery. “We are bullish on retail but we have a pricing disconnect we have to work through,” explained panelist Will Pike, vice chairman and managing director of CBRE. “There is a lot of price discovery. I think we are in the second or third inning of that.” According to Pike, “we have to see what happens with the Fed during the next meeting.” He added that the primary groups are willing to transact in the market if they have a specific reason to sell or if they have debt coming due.

Gino Sabatini, managing director and head of investments at W. P. Carey, agreed, noting that while not currently doing deals, they are not pens down at W.P. Carey. “We are in a period of price discovery and eventually there are going to be people who have to do something and they will move the market.”

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