Market Intelligence
Monitor transaction velocity, spreads, and buyer pool depth
Transaction velocity is up from a year ago, which reads as a brisk net-lease market. The measure combines volume, how often deals print, and days on market. The acceleration is institutional capital from pensions, insurers, and global investors looking for yield. Single assets are closing in weeks. Portfolios take longer. The market is functioning.
Bid-ask spreads have compressed since 2024, which is better price transparency and a more competitive buyer set. Investment-grade net-lease portfolios still clear a tighter spread than opportunistic or repositioning assets. A tighter spread means buyers and sellers are closer on price.
The active buyer pool of institutions and private investors is larger than a year ago. Pensions, foreign capital from Canada, Australia, and Europe, REITs, and private equity are all in it. That mix keeps a bid under most deals and reduces the risk that one buyer sets the price. Smaller assets draw several bidders. Portfolio sales draw more. The result is competitive pricing.
Time to close has improved since 2024. The gain comes from more standard diligence, capital that is already raised, and better property-level data. A clean sale can close in well under a quarter. A typical sale takes about a quarter. Longer files are usually a recapitalization, a 1031 coordination, or a property that needs real operating work.
Net-lease liquidity has changed a lot over the past decade. Before 2008, spreads were tight. The financial crisis blew them out as the buyer pool disappeared. The 2012-2016 recovery brought spreads back in. 2017-2019 was the easy-money peak. The 2020 shock widened spreads again, and they recovered quickly. Today's spreads and close times look like a normal market, not a stressed one. Institutional interest is what should keep that in place.
Data and analysis on this page are for informational purposes only and do not constitute investment, financial, or tax advice. Figures may be estimated from publicly available sources and should be verified with primary data providers (CoStar, MSCI RCA, CBRE, FRED) before use in investment decisions. Past performance does not guarantee future results.