Net Lease Tenant Credit Decoded: 3 Buckets Behind 2026's Biggest Expansions

Net Lease Tenant Credit Decoded: 3 Buckets Behind 2026's Biggest Expansions

Real expansion is happening in net lease right now with a focus on gas convenience, drive-thru coffee, fitness, and QSR. Tenants across all these categories are actively adding locations in 2026. But a public ticker on the door doesn't tell you who's actually on the hook if the tenant defaults and that answer changes everything about how you underwrite the deal. In this episode, Karly Iacono breaks down net lease tenant credit into three buckets every investor needs to underwrite differently: Bucket 1: The lease sits directly with a publicly rated parent. The credit is transparent and Wall Street prices it every day. Bucket 2: No public rating, no SEC filings but the lease still sits with a real corporate entity. Some of the strongest credits in net lease live here. Bucket 3: The one that catches investors off guard. The brand is publicly traded and expanding fast, but the franchisor is not your tenant. The franchisee is. And several of the biggest names in this bucket have stated explicitly they do not guarantee the lease. The takeaway: match your diligence to the credit, not the brand's fame and keep an eye on these expanding tenants. 🔔 Subscribe to Commercial Real Estate Now for weekly market insights. #CommercialRealEstate #KarlyIacono #CommercialRealEstateNow #netlease #underwriting #tenant #credit The opinions expressed in this video are those of Karly Iacono and her guests and may not represent those of CBRE or its affiliates. This content is for educational purposes only and does not constitute legal, financial, or investment advice. Please consult a qualified attorney licensed in your state and a licensed financial advisor before making any investment or legal decisions. This video may reference trade names or trademarks of various third parties; all product and company names are trademarks™ or registered® trademarks of their respective holders, and any such reference is solely for illustrative purposes and does not imply any affiliation with, endorsement by, or association of any kind between such holders and CBRE or Karly Iacono.

Assistive Intelligence, Not Artificial: Rethinking AI in Commercial Real Estate

AI in commercial real estate isn't about robots replacing brokers, it's about clearing the administrative grind so humans can do the relationship-driven work only they can do. Choon Lee, CEO of Abstra and Abstra Point, joins Karly Iacono to break down 15 years of building AI for lease abstraction and site tracking, why CRE has lagged the AI adoption curve, and his three-part framework for where AI actually delivers value today. 🎙️ Guest: Choon Lee, CEO, Abstra & Abstra Point 🔔 Subscribe for more conversations at the intersection of commercial real estate, capital markets, and the technology reshaping how deals get done. #CommercialRealEstate #AIinRealEstate #PropTech #KarlyIacono #CommercialRealEstateNow #realestatetech The opinions expressed in this video are those of Karly Iacono and her guests and may not represent those of CBRE or its affiliates. This content is for educational purposes only and does not constitute legal, financial, or investment advice. Please consult a qualified attorney licensed in your state and a licensed financial advisor before making any investment or legal decisions. This video may reference trade names or trademarks of various third parties; all product and company names are trademarks™ or registered® trademarks of their respective holders, and any such reference is solely for illustrative purposes and does not imply any affiliation with, endorsement by, or association of any kind between such holders and CBRE or Karly Iacono.

50 Years, Zero Defaults: How Saglo Survives Every Downturn

Commercial Real Estate Now | Episode with Hue Chen, President & CEO of Saglo Companies Karly Iacono sits down with Hue Chen, President and CEO of Saglo Companies — a vertically integrated, privately held retail real estate firm celebrating its 50th anniversary this year. From surviving the S&L crisis and the dot-com bust to navigating COVID, Saglo has never defaulted on a loan. Hue breaks down exactly how they've done it. In this episode, we cover: Saglo's 50-year history and what it takes to survive every down cycle in commercial real estate Hue's day-to-day as President & CEO — and why technology strategy must be led from the top How to identify the right acquisition target: the full checklist Hue's team uses to underwrite neighborhood and community shopping centers CapEx decisions: when renovation makes sense, when it doesn't, and how lender financing changes the math Saglo's capital stack: 65% LTV, banks over CMBS, and a friends-and-family equity model The fund structure vs. deal-by-deal investing — and what made them switch 📍 Saglo Companies operates across Florida, Georgia, and Maryland with over 2.5M square feet of retail. Commercial Real Estate Now is hosted by Karly Iacono. Subscribe for weekly conversations with top investors, operators, and experts across the commercial real estate industry. 🔗 Connect with Karly: https://www.linkedin.com/in/karlyiacono #CommercialRealEstate #RetailRealEstate #ShoppingCenters #CRE #RealEstateInvesting #ValueAdd #PrivateEquity #SagloCompanies Warning-IRS Circular 230 Disclosure: CBRE and its affiliates do not provide tax advice and nothing contained herein should be construed to be tax advice. Please be advised that any discussion of U.S. tax matters contained herein is not intended or written to be used, and cannot be used, by the recipient of any Information for the purpose of avoiding U.S. tax-related penalties; and was written to support the promotion or marketing of the transaction or other matters addressed herein. Accordingly, any recipient of this video should seek advice based on your particular circumstances from an independent tax advisor. You also agree that the information herein down not constitute legal or other professional advice and you should obtain legal advice from a qualified attorney licensed in your state. The opinions contained in this video are those of Karly Iacono and may not represent those of CBRE. All content is for educational purposes only. The following content may contain the trade names or trademarks of various third parties, and if so, any such use is solely for illustrative purposes only. All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with, endorsement by, or association of any kind between them and CBRE or Karly Iacono

What Makes Retail Mission-Critical in 2026? W. P. Carey's Head of Investments Weighs In

What does it actually take for a retail asset to survive the next 20 years? Karly Iacono gets a rare, unfiltered look inside the investment strategy of one of the world's largest net lease REITs — live from the ICSC Las Vegas PropTech floor. Gino Sabatini, Head of Investments at W. P. Carey, breaks down exactly how they decide what's worth owning, what they walked away from, and where they're placing big bets right now. Topics include: -Defining "mission-critical" retail in 2026 -The single metric that drives every underwriting decision -A category they owned 10 years ago they'd never touch today -How they're structuring deals in a higher rate environment -Portfolio construction across industrial, retail, and global assets -The office exit strategy and what came next -Where W. P. Carey is finding opportunity right now 🔔 Subscribe for new episodes weekly. Warning-IRS Circular 230 Disclosure: CBRE and its affiliates do not provide tax advice and nothing contained herein should be construed to be tax advice. Please be advised that any discussion of U.S. tax matters contained herein is not intended or written to be used, and cannot be used, by the recipient of any Information for the purpose of avoiding U.S. tax-related penalties; and was written to support the promotion or marketing of the transaction or other matters addressed herein. Accordingly, any recipient of this video should seek advice based on your particular circumstances from an independent tax advisor. You also agree that the information herein down not constitute legal or other professional advice and you should obtain legal advice from a qualified attorney licensed in your state. The opinions contained in this video are those of Karly Iacono and may not represent those of CBRE. All content is for educational purposes only. The following content may contain the trade names or trademarks of various third parties, and if so, any such use is solely for illustrative purposes only. All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with, endorsement by, or association of any kind between them and CBRE or Karly Iacono.

Cap Rates are Decoupling from Interest Rates: What's Driving Net Lease Pricing Today

Something is shifting in net lease that every investor and owner needs to understand: cap rates are no longer moving in lockstep with the 10-year Treasury. The traditional risk premium framework is breaking down, and in its place, tenant quality, business trajectory, and lease structure are doing the pricing work. In this episode, Karly Iacono breaks down exactly what's happening and why: -What's compressing: McDonald's and Chick-fil-A ground leases are trading in the high 3s to low 4s — tighter than ever — even as rates move against them. -What's widening and why it matters: Dollar General and Dollar Tree cap rates are out due to supply, not business failure. Drugstores are a different story. -The scarcity factor: Few investment-grade retailers have single-tenant expansion pipelines right now. -The maturity wall: Forced sellers heading into Q3/Q4 create opportunity. That's where quality product trades at rational numbers. 🔗 Connect with Karly: https://www.linkedin.com/in/karlyiacono #netlease #commercialrealestate #cre #retailrealestate #caprates #capitalmarkets #treasuryyield #creinvesting #nnn Warning-IRS Circular 230 Disclosure: CBRE and its affiliates do not provide tax advice and nothing contained herein should be construed to be tax advice. Please be advised that any discussion of U.S. tax matters contained herein is not intended or written to be used, and cannot be used, by the recipient of any Information for the purpose of avoiding U.S. tax-related penalties; and was written to support the promotion or marketing of the transaction or other matters addressed herein. Accordingly, any recipient of this video should seek advice based on your particular circumstances from an independent tax advisor. You also agree that the information herein down not constitute legal or other professional advice and you should obtain legal advice from a qualified attorney licensed in your state. The opinions contained in this video are those of Karly Iacono and may not represent those of CBRE. All content is for educational purposes only. The following content may contain the trade names or trademarks of various third parties, and if so, any such use is solely for illustrative purposes only. All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with, endorsement by, or association of any kind between them and CBRE or Karly Iacono.