Globest Sectors

The Jersey City, NJ-based REIT also sold 700 Horizon Drive to VEREIT of Phoenix. The 120,000-square-foot building that boasts similar amenities as 600 Horizon Drive, including advance fiber-optics, is leased to AAA.

Travel Portland's tourism improvement district-funded marketing and PR efforts have produced significant results for the local economy in that travel to Portland nearly doubled from 2013 to 2018.

Deloitte LLP predicts overall 2018 holiday sales will climb anywhere from 5% to 5.6%, while e-commerce sales will soar between 17% to 22%.

Since P3 Properties acquired the four-building complex last year, occupancy has risen more than 13 percent, according to its owners.

With limited supply, urban in-fill generational triple net assets leased to top-tier credit tenants in hot markets such as Los Altos continue to be in high demand and many sales are off-market.

While Phoenix was late to recover after the recession, it will now benefit from an extended runway with growth projected for the next several years.

"With new capital made available through this financing and positive momentum in the Midtown market, we feel the property is well positioned for continued success," says Square Mile Capital's Eric Cohen.

Rising interest rates are putting pressure on pricing but the fundamentals of net lease investments and the Texas economy have been strong enough to keep cap rates within a historically low range.