Global Net Lease Sells $74M Assets at 7.2% Cap Rate, Eyes $535M Industrial Deal in Q3
GNL•Since Q1 2026 Global Net Lease sold $74 million of assets—$66 million occupied at a 7.2% cap rate, 93% office—cutting office exposure from 26% to about 21% of rent. It’s under contract for an industrial property at $14 million (8.2% cap) and expects a $535 million Modiv Industrial acquisition in Q3 that’s leverage neutral.
1. Dispositions Since Q1 2026
Global Net Lease closed $74 million of dispositions from April through June, including $66 million of occupied assets at a 7.2% cash cap rate and $8 million of vacant assets. Year-to-date sales total about $145 million at a 7.5% cap rate on occupied properties.
2. Occupied Asset Transactions
The company sold a 33,000-sq-ft building leased to the U.S. General Services Administration for $13 million and a 369,000-sq-ft GE Aviation lease for $48 million, both following lease extensions. A 133,000-sq-ft Netherlands office leased to KPN is under contract for roughly $18 million post-lease expiry.
3. Acquisition Plans
GNL is under contract to acquire a 100,000-sq-ft single-tenant industrial property for $14 million at an 8.2% cap rate. It also expects to close a $535 million Modiv Industrial acquisition in Q3, which is leverage neutral and immediately 4% accretive to AFFO per share.
4. Strategic Portfolio Impact
These moves will reduce office concentration from 26% to about 21% of portfolio straight-line rent, extend weighted average lease term from 5.9 to 6.7 years, and redirect capital into higher-quality industrial and retail net lease assets while maintaining balance sheet strength.
