Net-lease investment volume increased by 24.4% quarter-over-quarter in Q3 to $11.7 billion after a weak Q2. The net-lease share of all commercial real estate investment activity stood at 18.4% in Q3, well above the five-year average of 11.8%. A similar trend occurred during the Global Financial Crisis (GFC) when the net-lease share jumped to 14.9% in 2009 from 6.9% in 2007.
On a year-over-year basis, net-lease investment volume was down by 50.6% in Q3. Total commercial real estate investment volume was down by 59.5% year-over-year due to the COVID-19 economic downturn.