Sales of single-tenant retail properties buildings leased to fast-food joints, pharmacies and other store operators have soared to a six-year high as investors seek real estate that performs better than bonds.
Acquisitions of companies that own single-tenant buildings also are rising as landlords seek a more diverse mix of renters and lower risk. Spirit Realty Capital Inc., for example, agreed last month to a merger with Cole Credit Property Trust II Inc. in a deal valued at a record $3.66 billion, according to data compiled by Bloomberg.
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