Among the key factors affecting the sudden rise in TI allowances is a significant increase in new inventory that impacted supply and demand dynamics nationally.
The average retail cap rate for net lease properties during the second quarter of 2018 reached 6.2 percent, an increase of 10 basis points from first quarter and the biggest jump in seven years.
Apartment renters have come to expect green building features like good indoor air quality and energy efficiency, making them more of a requirement in many markets.
In a Q&A with NREI, Marc Halle, head of global real estate securities at PGIM Real Estate, offers his outlook on the manufactured housing, self-storage and industrial sectors.