📝CRE360 Take:
CBRE highlights net-lease deals reaching $46.7 billion, a 27% annual increase through Q2 2025. Retail was the main driver, while office and industrial net-lease assets trailed. Cap rates hovered near 7%, showing resilience amid rate volatility.
CRE360 notes the strength is concentrated in top-credit retail. The report glosses over weak office demand and softening older industrial assets. The “steady cap rate” story may mask early upward drift in weaker locations, especially if treasury yields stay high.
Signal: chase selectively. Defensive, necessity-based retail still offers bond-like stability. Avoid net-lease office unless long-dated with strong credits. The boom is real, but it’s uneven — spreads to debt costs must remain healthy.
Publisher Credit:
Full report: CBRE — Net-Lease Figures Q2 2025
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