Retail Review – Q4 2025 – U.S. Retail Capital Markets Report

Pricing Stabilizes as Capital Re-Engages

Retail capital markets closed 2025 on more stable footing. After two years of repricing, Q4 confirmed clearer pricing expectations, steadier transaction activity, and improved liquidity supported by disciplined capital.

This quarter’s report highlights how cap rates stabilized across retail segments, with pricing increasingly driven by asset quality, tenant credit, and location rather than broad market repricing. Private investors remained the primary source of transaction activity, while selective capital re-entered the market as underwriting clarity improved.

Blue West Capital’s Q4 Retail Capital Markets Report provides a concise overview of year-end retail investment trends, including cap rate ranges by retail segment, transaction activity across single-tenant and multi-tenant assets, and insights into liquidity and execution heading into 2026.

Download the full report for detailed analysis and transaction-level insight.

With access to nearly 400 retail markets nationwide, we provide invaluable insight to support your commercial real estate investment goals. Reach out to us today to begin a conversation about how we can help you navigate the complexities of the retail real estate landscape.