Properties with sale prices under $2.5 million have seen a 28 basis point increase in cap rates over the past year.
Properties with sale prices ranging from $2.5 million to $6.5 million experienced a more substantial increase of 37 bps.
Properties with sale prices exceeding $6.5 million witnessed a significant jump of 55 bps.
Convenience stores experienced the smallest shift in cap rates among all retail sectors, with a minimal change of 5 bps quarter-to-quarter.
Cap rates for retail banks show compression among on-market properties quarter-to-quarter, which can be attributed to longer lease terms being offered.
The pharmacy real estate sector continues evolving as operators adjust store footprints, expand healthcare services, and respond to margin pressure and changing consumer behavior.B+E’s