CBRE Mid-Atlantic property group continues to be active despite uncertainty and rising interest rates

CBRE’s Mid-Atlantic Net Lease Property Group on Friday said it completed 60 transactions in 12 states throughout the country, including several high-profile deals in New Jersey and Pennsylvania.

The activity is seen as a boon to the net lease market, despite climbing interest rates.

The CBRE Mid-Atlantic NLPG, consisting of Michael Shover, Matthew Gorman, Thomas Finnegan and Robert Thompson, specializes in the sale, purchase and recapitalization of net-leased investment properties throughout the U.S. and arranged the transactions on behalf of their clients.

“2022 was a volatile year in the market to say the least,” Shover said. “We haven’t experienced a shift as dramatic in such a short period of time since 2008, but our segment of the industry and team performed better than most.”

“This year will most likely be a down market, that’s where certainty of execution becomes paramount,” Gorman continued. “During market shifts, we experience a flight to quality and stability, both major reasons why net lease properties remain at the top of many investor’s lists.”

Among the transactions closed by the team in 2022, the majority were in the mid-Atlantic U.S. markets, which combined for 32 out of the 60 total net lease closings. Highlights include:

  • Health care: 12 closings (including Blue Pearl Vet Hospital in Malvern, Pennsylvania, and Market Square in Philadelphia);
  • Quick-service restaurants: 14 closings (including a McDonald’s in Ramsey in Bergen County and a Burger King in Whitehall, Pennsylvania);
  • C-store/auto: 6 closings (including Wawa in Harleysville, Pennsylvania);
  • Dollar stores: 13 closings (including Dollar General in National Park, Gloucester County);
  • National reach: Transactions in New Jersey, Pennsylvania, New York and 14 other states.