Featured Reports

Calkain and Sage Policy join forces to take a look at the overall economy and focus in on net lease. Download…

The quarterly Cap Rate Report is an overview of STNL cap rates, providing overall information as well as cap rates broken down by sectors. Download…

Information on the most common rated and unrated STNL tenants – providing current S&P and Moody’s ratings with notes on relevant market changes. Download…

Calkain provides in-depth analysis of the top tenants within the net lease sector with our Tenant Profile reports. Download…

Latest Reports

June 23, 2017

Dollar General is the largest dollar store chain. As of March 2017, they operate 13,429 locations across 44 states. The locations offer products that are frequently used and replenished, such as food, snacks, health and beauty aids, cleaning supplies, clothing, housewares, and seasonal items at low everyday prices. read more

June 09, 2017

If robust consumer and business sentiment was a reliable way to measure the performance of an economy, then the U.S. would be in the midst of a historic economic boom.  According to various confidence measures, business is either already booming in America or is on the verge of takeoff. read more

May 15, 2017

Wilber Hardee opened his first restaurant in Greenville, North Carolina in 1960. Five months after opening, Hardee’s had its first franchisee. This burger chain has grown at an impressive rate, opening its 1,000th restaurant in just 15 years of business. read more

May 07, 2017

The 1st Quarter of 2017, on the whole, was fairly quiet seeing a very slight compression of 11 bps in cap rates. read more


April 07, 2017

Updated information on the most common rated and unrated tenants in Net Lease – a report providing current S&P and Moody’s ratings with notes on relevant market changes. Download

February 21, 2017

As the economy has recovered from the 2009 recession, the service industry has expanded rapidly. The automotive sector has been steadily growing over the years with the expectation of more growth in the future, particularly for the auto parts industry. read more

January 25, 2017

2016 ended with rising interest rates following the presidential election. Cap rates followed a similar trend with an increase of 18 bps for Q4. This was the first increase in single tenant net lease (STNL) since Q4 2015.
read more

November 10, 2016

Fresenius Medical Care is a division of the global parent company, Fresenius Medical Care AG & Co. KGaA, with their North American headquarters located in Waltham, MA.   They provide emotional, medical, dietary, financial & well-being resources for patients with chronic kidney care (CKD) and end stage renal disease (ESRD).  They care about all aspects of a patient’s care – the whole “you”.  Their services include in-center hemodialysis, at-home hemodialysis, at-home peritoneal dialysis, counseling and guidance for non-dialysis options, nutritional counseling, as well as patient training and education classes. read more

October 24, 2016

DaVita, Inc., a Fortune 500 Company, is one of the largest kidney care companies in the United States, headquartered in Denver, Colorado. Their offerings include in-center hemodialysis, in-center nocturnal dialysis, peritoneal dialysis, home hemodialysis, vascular access management, chronic kidney disease education, and renal diet assistance. read more

October 14, 2016

The third quarter of 2016 saw cap rates follow a similar pattern from the beginning of the year. There has been a gradual decrease of 7.5 bps drop from the last quarter and a 20 bps drop year-to-date.  read more

September 22, 2016

Updated information on the most common rated and unrated tenants in Net Lease – a report providing current S&P and Moody’s ratings with notes on relevant market changes. VIEW

August 25, 2016

Florida continues to be a highly sought after market for the net lease investors. The flow of capital into Florida’s commercial real estate section has been primarily fueled by the investors’ desire to find a safe haven for their investment dollars. VIEW

July 29, 2016

Overall cap rates remained largely stable. Big-box and educational sectors showed a decline in cap rates quarter over quarter. Q2 2016 average lease term remaining fell by one (1) year in comparison to Q1 2016. VIEW

May 31, 2016

Transaction volume for Q1 2016 was slightly higher than it was for Q4 2015. Overall cap rates for Single Tenant Net Lease (STNL) properties remained stable for many sectors, particularly for the dollar store and pharmacy sectors. VIEW


April 22, 2016

Dr. Sam Chandan’s presentation providing insight on the global economy, the outlook for real estate investments, and the impact on the Net Lease industry. VIEW


April 17, 2016

Updated information on the most common rated and unrated tenants in Net Lease – a report providing current S&P and Moody’s ratings with notes on relevant market changes. VIEW

March 28, 2016

Yum! Brands, a major net-lease tenant, which is the owner of Taco Bell, KFC, Pizza Hut and other chains, made some news late last year that gave investors pause. VIEW

March 01, 2016

David Sobelman presents Calkain’s 2016 Net Lease market forecast, including a recap of 2015 market dynamics and a 2016 Net Lease outlook. read more


December 06, 2015

Founded in 1971, Starbucks is a global brand in the quick service retail sector, specializing in the sale of high-margin specialty coffee. The company operates 22,519 stores around the world, often the ubiquitous meeting lounge for socializing amongst friends or office for entrepreneurs.  For the fiscal year ending 2014, Starbucks generated revenue of $16.44 billion and net income of $2.07 billion, with an extremely impressive gross margin of 58.54% and pre-tax operating margin of 18.7%. As of September 2015, its stock had appreciated 48% on a year-over-year basis. read more


November 19, 2015

This report examines the geographic overlap between Walgreens and Rite Aid. read more


April 24, 2015

Even as investors have recovered their appetite for riskier and higher-yielding assets, demand for the relative safety of well-tenanted net lease properties with longer remaining lease terms remains intense. VIEW


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