The Fed's recent string of rate hikes have led to tough times for commercial real estate investors, even for the relatively stable net lease sector.

"Interest rates have skyrocketed, cap rates have increased, construction costs have continued to rise, but land sellers haven't caught up yet on lowering their prices," says Michaelann Murphy, Vice President of Development at STNL Development, ahead of her panel appearance at this year's upcoming GlobeSt spring net lease conference. "It becomes a four-sided squeeze on developer's margins, or in some cases completely killing deals that were tight to begin with."

But Murphy also says the net lease world has "probably seen the least effects of all the economic turmoil, and we will likely rebound faster," adding that STNL has "gotten more granular" with contractors and tenants to seek value engineered options to lower costs or buy in bulk.