Net Lease

In a recession, people hold onto their cars longer.

The deal was reported by JLL Capital Markets, which represented Renaissance Properties in the sale of the transit-oriented development to a private buyer who purchased the asset as part of a 1031 exchange requirement free and clear of existing financing.

Significant margin calls on repurchase agreements has resulted in a severe liquidity crisis over the entire real estate finance market, he said.

Retailing in the digital age transformed itself to compete with the likes of Amazon, but as a result, this industry is better prepared to perform during the current health crisis without even realizing it.

Buyers are hitting the pause button as they take the time to survey the new landscape.

With people rushing out to grocery stores and pharmacies, daily needs retailers are doing well amid the crisis.

Jobs have driven strong medical office activity in Phoenix, but new supply will likely drive vacancy up this year.

The California buyer was in a 1031 exchange looking for a solid national tenant, triple net lease with 7%-plus return, so a Hoquiam, WA Rite Aid property was the perfect fit for the out-of-state purchaser.