As some real estate economists have predicted, in spite of market volatility created by interest rate increases in late spring, average retail cap rates continued to trend down in the second quarter. CBRE’s valuation and advisory services team reports that the national average on transactions closed during the quarter was 7.35 percent, representing a 43 basis point decline from the first quarter and a 13 basis point decline from the same period in 2012. This was the lo
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