2025 Fall Preview: Josh Kanter, SURMOUNT

What trends or shifts do you see shaping your industry this fall and into 2026? We believe interest rates will remain the defining market force heading into next year. The triple net lease sector has shown resilience in recent years, though higher rates slowed activity in 2025 as institutional buyers sought higher returns and 1031 and private demand softened. Since the first rate cut in September, we’ve seen clear signs of renewed momentum. As rates continue to ease, we expect stronger transaction volume and investor confidence in 2026.

What’s one major project, initiative, or innovation your firm is focused on in the months ahead? Some of the strongest opportunities in Q4 stem from the return of 100% bonus depreciation under the recently enacted One Big Beautiful Bill Act. Investors are actively acquiring high-quality gas station and car wash properties at attractive cap rates while leveraging accelerated depreciation to offset significant tax liabilities. Bonus depreciation remains one of the most powerful advantages in real estate investing, yet many investors still overlook it. We expect both demand and investor awareness to continue rising in the years ahead.