
NYC Leads U.S. in Q1 Net Lease Retail Sales
New York City ranked 12th in the nation for first-quarter net lease investment activity, with $1.6 billion in overall investment activity, CBRE reported. The city ranked number one for net lease retail with $475 million and sixth in the industrial net lease sector with $575 million in investment activity during Q1 2021.
New York was also among the top markets for cross-border investment into net lease during the quarter. The net lease sector’s year-over-year decline in investment sales was 2.6%, comparing favorably to an 18.3% Y-O-Y decline in total commercial real estate volume.
“Net-lease properties continue to attract interest during this downturn as investors seek long-term dependable cash flows,” said Will Pike, vice chairman of net lease properties for capital markets at CBRE. “Interest in the office sector is on the rise, with strong demand for mission-critical assets as COVID-19 guidance changes and employees begin to return to the workplace.”
- ◦Sale/Acquisition