Single-tenant retail sales volume versus average cap rates, updated quarterly.

Average cap rates continued to fall, ending the quarter at 6.5 percent—a 4 basis-point drop from mid-year, and 9 basis points down from this time last year.

After bottoming out at 6.1 percent at mid-year, rates have seen noticeable increases during the last two quarters, ending the year at 6.32 percent.

Single-tenant retail sales volume versus average cap rates, updated quarterly.