**SRS Capital Markets Reports $1.2 Billion in Net Lease Sales for H1 2025**
The SRS Capital Markets team announced the sale of 350 net-leased properties totaling $1.2 billion nationwide during the first half of 2025. This sales volume marks a significant increase compared to the same period in 2024.
Matthew Mousavi, Senior Managing Principal and Co-Head of National Net Lease at SRS Capital Markets, commented on the market momentum despite ongoing economic headwinds.
“Despite the higher interest rate environment persisting into 2025, we’re seeing transactional activity continue to improve with overall deal volume steadily increasing year over year,” Mousavi said.
He added that a gradually improving lending environment and increased deployment of sidelined capital—especially toward credit-worthy and quality properties—are driving demand. Public and private market activity has been particularly strong in sectors such as necessity-based and value-oriented retail, credit industrial, logistics, and medical assets.
Mousavi also pointed to the positive influence of new tax legislation: “With accelerated and bonus depreciation being a focal point of the new tax bill, we expect increased investor demand for bonus depreciation-qualifying assets like convenience stores, car washes, and other fee simple assets. Additionally, we anticipate a surge in 1031 exchange activity as transactional volume grows.”
Patrick Nutt, also a Senior Managing Principal and Co-Head of National Net Lease, weighed in on pricing trends: “While cap rates have continued to expand, the rate of movement has been more of a slow adjustment versus a major re-set in pricing. Prime properties—with strong tenants, solid real estate fundamentals, and passive lease structures—are still trading close to peak pricing.”
Nutt noted that properties with niche or oversupplied tenancies, or those affected by lease or environmental complications, have seen the steepest price adjustments.
The data highlights a resilient and adapting net lease market, demonstrating growth momentum even in a challenging macroeconomic backdrop.
