redirect pin user minus plus fax mobile-phone office-phone data envelope globe outlook retail close line-arrow-down solid-triangle-down facebook globe2 google hamburger line-arrow-left solid-triangle-left linkedin wechat play-btn line-arrow-right arrow-right solid-triangle-right search twitter line-arrow-up solid-triangle-up calendar globe-americas globe-apac globe-emea external-link music picture paper pictures play gallery download rss-feed vcard account-loading

U.S. Cap Rate Survey H2 2018 Advance Review

11 January 2019

CBRE presents its semiannual U.S. Cap Rate Survey H2 2018 Advance Review – a snapshot of CRE cap rates across the U.S.

  • U.S. cap rates overall were stable during H2 2018, except for certain retail segments.
  • Industrial cap rates further compressed, inching down by 7 basis points (bps) overall, with the most tightening for lower-quality properties.
  • In retail, power centers had an average cap rate increase of 13 bps, neighborhood centers increased by 10 bps and high-street properties were stable.
  • Multifamily, office and hotel cap rates were largely unchanged.
  • The average cap rate spread over the 10-year Treasury rose by 20 bps. Spreads were lowest for high-street retail and highest for suburban hotels.

CBRE Capital Markets, Valuation & Advisory Services and Research professionals who participate in this survey provide cap-rate ranges based on personal experience with active investors in their markets. The final report, with summary tables, analysis and maps for all property types in major markets, will be published in mid-February. 

Get Started with CBRE Capital Markets

Contact a Capital Markets Professional

Stay Connected with CBRE Capital Markets

Search Properties For Sale

Connect With Us to Learn More

Richard Barkham, Ph.D.
Global Chief Economist & Head of Americas Research
+1 617 912 5215
Spencer Levy Headshot
Spencer Levy
Chairman, Americas Research & Senior Economic Advisor
+1 617 9125236
Shanna Drwiega
Shanna Drwiega
Project Manager
+1 813 2738433
Brian McAuliffe
Capital Markets
+1 312 9351891
Kevin Assef Headshot
Kevin Aussef
Chief Operating Officer
Capital Markets
+1 949 8093798
Brian Stoffer Headshot
Brian Stoffers
Global President, Debt & Structured Finance
Capital Markets