MIAMI—In a move to leverage improving conditions in thenet leased and retail space,Sperry Van Ness has brought DavidWells on board as a senior investment advisor. Wells willalso serve as vice president of the Net lease Division for theMiami office.

Wells is charged with expanding Sperry’s presence in thenet lease and retail sectorthroughout the Southeast and nationally. Sperry reports thatinvestment sales have increased 25% over the past quarter andprices have been skyrocketing over the past year by 30% to 40% forpremium assets.

“The net lease market in the Southeast iseither red hot or ice cold, depending on the lease term and creditof the tenant,” Wells tells GlobeSt.com. “There really is no inbetween right now." Although deals are trading above where theywere in the peak of the market in 2007 for good tenants with atleast 10 years of term, he explains, there isn’t a market at allfor tenants without strong credit and little lease term.