Thursday, October 1, 2026

Net lease news

Market Read

Asking cap rates held. The cushion over Treasuries didn't.

10-year since the Jun 30 survey
+82 bps
4.44% → 5.26%, FRED DGS10
overall spread on Jun 30
238 bps
6.82% median asking minus 4.44%, Boulder Q2 2026 / FRED
retail spread now
134 bps
6.60% median asking minus 5.26%

Underwriting takeawayPrice off today's 10-year, not June's survey: at flat asks, the premium over Treasuries is 82 bps thinner.

Boulder Group Net Lease Research Q2 2026; FRED DGS10, daily close.

10-year Treasury

5.29%▲ 113 bps

Sep 30, 2026 · FRED DGS10 · End-of-day, not a live quote

4.04.55.05.55.29

This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.

Cap rate by sector

Overall6.82%Retail6.60%Industrial7.25%Office7.90%

The Boulder Group Net Lease Research Report, Q2 2026 · Jun 30, 2026. Gold ticks mark the prior quarter when that change is stored.

Top briefs

All briefs
JLL IPT pays $90M for Worcester Industrial. Connect CRE
JLL IPT pays $90M for Worcester Industrial
Illustration of a clothing rack silhouetteIllustration
Burlington Stores Inks 32K SF at Brooklyn Navy Yard’s Admirals Row Campus
Orion Buys Food Lion-Anchored Shopping Center in Boone, North Carolina for $26.1M. REBusinessOnline
Orion Buys Food Lion-Anchored Shopping Center in Boone, North Carolina for $26.1M
ScoreOM

Free OM analyzer: drop in an OM, get a deal score in about a minute

ScoreOM pulls the numbers out of an offering memorandum, rebuilds NOI with vacancy and reserves, and scores the deal 0 to 100. Free, no card needed.

ScoreOM
Illustration of a row of storefront silhouettesIllustration
Dhanani Private Equity Group Welcomes New Tenants to San Antonio Shopping Center
Illustration of a shared parking diagram and shop blocksIllustration
Atlantic Capital Partners Negotiates $10.2M Sale of Shopping Center in Springfield, Massachusetts
SRS Real Estate Brokers $27.5M Sale of Value-Add Retail Property in Santa Clarita, California. REBusinessOnline
SRS Real Estate Brokers $27.5M Sale of Value-Add Retail Property in Santa Clarita, California

NNN Numbers

Rates and sources

Weekly market figures. Each number keeps the date and source it was saved with.

Boulder Group STNL cap rates
Property typeRelative levelCap rateChange
NNN median ask (Boulder, Q2 2026)6.82%+2 bps
Retail cap6.60%+5 bps
Industrial cap7.25%+10 bps

The Boulder Group Net Lease Research Report, Q2 2026 (published Jun 30, 2026). Quarterly.

Deal Sheet

All sourced deals

Recent Acquisitions

See all acquisitions
PlaceMKR Pays $31.85M for Five At Home Triple-Net Stores. Northmarq
DealsPlaceMKR Pays $31.85M for Five At Home Triple-Net StoresMore in Deals →
Private Investor Buys Clovis Chick-fil-A Ground Lease for $4.7M. Shopping Center Business
Single-tenantPrivate Investor Buys Clovis Chick-fil-A Ground Lease for $4.7MMore in Single-tenant →
Brand Street, AEW Buy 410,000 SF Deer Park Town Center in Metro Chicago for $125M. REBusinessOnline
Brand Street, AEW Buy 410,000 SF Deer Park Town Center in Metro Chicago for $125MMore in Deals →
Newmark Arranges $95M Sale of Randhurst Village Shopping Center in Metro Chicago. REBusinessOnline
Newmark Arranges $95M Sale of Randhurst Village Shopping Center in Metro ChicagoMore in Deals →

Calculators

All 23 calculators →
Cap RateDetermine capitalization rate from NOI and property value.NOICalculate net operating income from revenue and operating expenses.Cash-on-CashCalculate the annual return on cash invested in a property.DSCRDetermine the debt service coverage ratio for loan qualification.IRREstimate the internal rate of return over the hold period.Loan PaymentCalculate monthly mortgage payments including principal and interest.Loan-to-ValueCalculate LTV to see leverage and loan eligibility.Rent EscalationProject future rent payments with annual escalation rates.
Partner toolScreen a full deal with ScoreOMPull the numbers out of an offering memorandum.

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