Foreign Investment in U.S. Net-Lease Assets Help Drive Record Year in 2019

WORLD PROPERTY JOURNAL | February 28, 2020

Global commercial property consultant CBRE is reporting this week U.S. net-lease investment reached record highs in 2019, with investors increasingly attracted to opportunities in high-growth secondary and tertiary markets. Net-lease investment--comprising office, industrial and retail properties--increased by 10.9% in 2019 to a record $77.5 billion, outpacing the growth rate of all commercial real estate. This was despite a 23% year-over-year drop in Q4 2019 volume to $19.5 billion--still 18.2% above the five-year average. Some of the largest annual gains for net-lease investment were in San Diego (+110%), the Inland Empire (+105%), Tampa (+56%), Indianapolis (+50%) and Memphis (+48%). Los Angeles ($5.0 billion), New York City ($4.9 billion) and San Jose ($4.2 billion) had the most full-year net-lease investment in 2019, while Seattle was the most favored market in Q4 2019 ($2.2 billion).

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