- The national retail cap rate remained stable during the third quarter, coming in at 8.49 percent compared with an adjusted figure of 8.48 percent during the second quarter.
- Average rates continue to be at levels last seen in mid 2003.
- The East and Midwest improved with 33 basis point and 36 basis point declines from the second quarter. The South was largely unchanged remaining about 10 basis points below 9 percent. The West saw a slight 9 basis point decline.
- The 7.72 percent cap rate in the East was the lowest for any region since the average cap rate in the West came in at 7.19 percent during the first quarter of 2009. It was the best figure for the East region since the third quarter of 2008 when the average cap rate was 6.72 percent.
The source report can be viewed here.