B+E CEO says it’s a great time to be a buyer as listings surge by 140%

Single-tenant net lease inventory listings have surged by close to 140% in recent weeks, as sellers rush into the market to try to lock in pricing before a recession sets in, B+E Net Lease reported in a Q4 report issued on the opening day of ICSC 2022.

“It’s a great time to be a buyer. There’s a lot of inventory, so you can do comparison shopping and you can push up pricing to those owners because it’s not the only deal available,” B+E Net Lease CEO Camille Renshaw told GlobeSt.

“[Sellers] are realizing that the party’s over, so they’re running to put their property on the market and thinking that I’m not going to get peak pricing, but I’ll get better pricing than I will next year,” she said.

We spoke to Renshaw at ICSC in New York as the show was wrapping up, after she spent two days discussing deals with REITs and others who are jumping in to grab high-quality assets as investors who have over-raised rush to get the money out.

“Everybody has over-raised. Everybody has so much money that they want to get out,” Renshaw told us. “One of the major net lease REITs was sitting here and he said: who is going to flinch first, buyers or sellers? He’s going to flinch first and continue to pay really low cap rates because he has to get the money out.”

Read the full article on Globest.com.