{"id":1004638616,"date":"2023-01-09T05:06:52","date_gmt":"2023-01-09T13:06:52","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004638616"},"modified":"2023-01-09T05:06:54","modified_gmt":"2023-01-09T13:06:54","slug":"nnn-pro-group-separates-from-marcus-millichap","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nnn-pro-group-separates-from-marcus-millichap\/","title":{"rendered":"NNN Pro Group Separates From Marcus & Millichap"},"content":{"rendered":"
\"https:\/\/unsplash.com\/photos\/OQMZwNd3ThU\"<\/a>

Photo by Scott Graham via Unsplash.com<\/p><\/div>\n

NNN Pro Group, a triple-net investment sales team at Marcus & Millichap<\/strong>, has separated from the national brokerage company effective Jan. 1, 2023, NNN Pro Group announced on Friday, Jan. 6.<\/p>\n

Notwithstanding the departure, the two companies reportedly \u201cwill continue to maintain a strong working relationship moving forward.\u201d<\/p>\n

Financials on the separation were not disclosed, and neither company replied to Commercial Property Executive<\/em>\u2019s inquiries after further information.<\/p>\n

NNN Pro Group team was founded more than 20 years ago by CEO Glen Kunofsky and is co-managed by COO Nicoletti DePaul. To date, it reportedly has closed on more than $30 billion of triple-net leased properties in the retail, industrial and office sectors.<\/p>\n

\n

READ ALSO<\/strong>: Why Net Lease Stays Relevant Amid Dislocation<\/a><\/p>\n

\n

In a prepared statement, Kunofsky said the independent group would be pursing strategic opportunities in addition to its existing advisory and brokerage services and expressed gratitude to Marcus & Millichap and its leadership for two decades of unwavering support.<\/p>\n

Also in a prepared statement, Marcus & Millichap COO J.D. Parker added the company\u2019s thanks to Kunofsky and the entire NNN Pro Group for their contributions to Marcus & Millichap over the years.<\/p>\n

Mixed picture<\/h2>\n

The nationwide net-lease market currently features both business-as-usual and unpredictable aspects.<\/p>\n

The 2023 Emerging Trends in Real Estate forecast from the Urban Land Institute<\/strong> notes, \u201cGrocery-anchored assets and net lease retail opportunities have dominated the retail investment landscape for most of the past decade. Do not expect this to change in 2023.\u201d<\/p>\n

Among desirable net-lease retail properties, the forecast continues, survey respondents especially cited fast-food properties with drive-throughs, \u201cassuming that long-term leases are in place to gold standard, national credit tenants. The challenge one broker told us is one of available product: \u2018Everyone is chasing the same thing.\u2019\u201d<\/p>\n

But in a third-quarter 2022 report, net-lease specialists The Boulder Group<\/strong>, of Wilmette, Ill., remarked that with Fed rates going up and rising debt costs putting pressure on cap rates for purchasers of net-lease properties, \u201cformerly opportunistic sellers removed properties from the market that were attempting to take advantage of the historically low cap rate environment.\u201d<\/p>\n

And as the supply of net-lease properties has decreased, buyers and sellers have struggled to agree on pricing levels. \u201cThe expectation from market participants is that the bid ask spread will widen as price discovery plays out in the fourth quarter and into 2023,\u201d the report stated.<\/p>\n","protected":false},"excerpt":{"rendered":"

To date, the investment sales group has closed on more than $30 billion of triple-net leased properties in the retail, industrial and office sectors.<\/p>\n","protected":false},"author":882,"featured_media":1004606886,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21808,23891,21742],"tags":[34836,32940,33395],"class_list":["post-1004638616","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-featured","category-national","category-latest","tag-marcus-millichap","tag-the-boulder-group","tag-urban-land-institute"],"acf":[],"yoast_head":"\nNNN Pro Group Separates From Marcus & Millichap - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"NNN Pro Group, a triple-net investment sales team at Marcus & Millichap, has separated from the brokerage company effective Jan. 1, 2023.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/nnn-pro-group-separates-from-marcus-millichap\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NNN Pro Group Separates From Marcus & Millichap\" \/>\n<meta property=\"og:description\" content=\"NNN Pro Group, a triple-net investment sales team at Marcus & Millichap, has separated from the brokerage company effective Jan. 1, 2023.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/nnn-pro-group-separates-from-marcus-millichap\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-09T13:06:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-09T13:06:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/scott-graham-OQMZwNd3ThU-unsplash-e1665744026476.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1029\" \/>\n\t<meta property=\"og:image:height\" content=\"771\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nnn-pro-group-separates-from-marcus-millichap\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/nnn-pro-group-separates-from-marcus-millichap\/\",\"name\":\"NNN Pro Group Separates From Marcus & Millichap - 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