Net Lease

With fewer visitors to eat, shop and stay, and unemployment numbers in the double digits, Central Florida retailers are navigating uncharted waters and trying to stay afloat.

"We have shied away from projects that are four or five years in length just because we don't know where the economy will stand at the end of the project."

Investor activity in the net lease space has remained strong for necessity-based uses, publicly-traded companies with strong financial positions, and uses such as quick-service restaurants with drive-thrus.

Despite New York City based companies looking to suburbs for cheaper office space outside dense urban areas, leasing activity for Long Island office space experienced a slowdown in the second quarter.

FSRs tried to pivot to save their businesses by ramping up delivery programs, streamlining their menus, and repurposing their parking lots as temporary drive-thru's, however, the shift to service their customers off-premises was difficult and costly.

The self-storage REIT will be taken private in a deal valued at approximately $900 million.

The buyer was comfortable completing the sale during the pandemic due to the essential nature of gas stations and convenience stores such as Wawa.

In its latest report, Moody's Analytics says there is good news and bad news on several sector fronts.