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Last year W. P. Carey expanded its focus on US retail.
But the arrangement is unusual and isn't clear whether this will become a trend or remain a one-off.
Silicon Valley, Northern Virginia, and Chicago are seeing biggest pop.
Increasingly these firms are reaching agreement on valuations and price discovery.
Last year it did a "modest" $100 million in transactions.
In 2021 and 2022 it didn't matter what vintage you bought as there was no cap rate premium.
Street rates continue to decline year-over-year across top metros, remaining negative in February.
Some tenants will seek to take advantage of a softer rental market to expand their footprint this year.
Net absorption has turned sharply negative in the suburbs.
The change involves a broader and more expansive view of the asset class.