Cap rates in the net lease drug store sector compressed significantly from the fourth quarter of 2012 to the third quarter of 2013. Properties tenanted by Walgreens, CVS and Rite Aid experienced cap rate compression of 65, 53 and 100 basis points respectively during this time frame. Specifically, cap rates for Walgreens and CVS properties built between 2011 and 2013 compressed by 25 basis points in the last three quarters. Part of the compression is derived from the lack of net lease ...
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