Office Cap Rates (transactions)
Hi,
Anyone have an idea on how to get data on what cap rates sponsors are transacting with per market. Also any data providers able get an accurate picture of WA office lease terms per market?
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You could call an IS broker and ask. They give guidance and can tell you about their recent transactions if you show interest in buying/selling with them.
CoStar, Compstack, RCA, Greenstreet, market calls, Brokerage shops, etc.
Building on the answers above - if at all possible, try to make sure you are comparing apples to apples with your data sources - ie: make sure they are all pulling out the same expense categories
caps have increased 1%-1.5%
am i generalizing? yes but still facts.
Lower quality product has probably gapped out 200-250 bps YoY
unless a distress sale i dont think ive seen to much movement at that high caps. maybe like a 10 plex or smaller yes.
Most Class B/C office that is trading is distressed, at least from a debt perspective. Product that would've gone for a 6-7 cap at peak is going for ~8+ cap today. Going to be a wave of distressed debt/foreclosure-driven sales that show this over the next 12-24 months
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