The Market Brief

You're pricing this quarter's deals with last quarter's assumptions.

Cap rates moved. Some sectors moved twice as much as others. Guarantees are getting softer while the flyers still say “credit tenant.” If your read on the market is a few months stale, you're either overpaying on the deals that look good or walking past the ones that quietly are.

● Q3 2026 · out now

Retail net lease is the relative sweet spot right now — retail caps rose just 5 bps last quarter while industrial moved double that. Tampa Bay retail vacancy is near 3.7%, new construction is projected to fall 37% nationally, and life-company money is executing at up to 70% LTV on 40-year am. The one number that decides whether this quarter's deals actually pencil is … the rest is in the brief.

What you actually get

✓Where cap rates landed this quarter — national STNL, retail, industrial, and blended Tampa Bay — with the direction of travel.
✓What's financing right now: who's lending, at what LTV, what DSCR, what term. The money tells you where the market really is.
✓The Florida tailwinds and traps — vacancy, construction pipeline, and the tenant-credit games that don't survive a lease read.
✓The plain-English “if you're buying / if you're selling” call. No hedging, no 40-page PDF nobody finishes.

Here's the honest part

The brief isn't sold on its own — it rides with The Pro Bundle. That's the Handbook, the Retail primer, and the Underwriting Toolkit (the actual Excel deal model, lease abstract, and 1031 calculator) — plus a full year of the brief, four issues, first one today.

One deal you price right — or one you walk away from — pays for this many times over. That's the whole pitch. You either use it on your next deal or you don't.

$220one time · everything above · yours to keep

Already have the Handbook or Toolkit? Reply to any email and I'll credit it toward the bundle.