Single-Tenant Net Lease Retail

Net-leased segment remains well positioned. Following a wave of store closures, tariff-induced inflationary pressure, and historically high gas prices, single-tenant retail vacancy rests well below its long-term average. The segment, however, is not without its challenges as the second half of 2026 approaches. Fortunately, a cohort of retailers are intent on expanding their footprints, aiding backfilling efforts during a period of limited construction.