Jason Hernandez

Specializing in leased investment property sales, nationwide. National Retail Group | Net Leased Properties Group.

[Jason Hernandez @JHernandezMM]

@jonathanmaze pricing aside, the strategic move by 7B will gain exposure in AZ and NV while rapidly expanding their footprint in already proven markets in OKC & TX.

Not to mention controlling locations that DB won't.

[Jonathan Maze @jonathanmaze]

So, 7 Brew won the bidding "war" over Dutch Bros for shuttered Salad and Go sites. But it wasn't quite the auction expected as Dutch opted not to increase its previous, $105 million offer for up to 65 locations.

So 7 Brew is paying $143.2 million for 73 sites. That's less than $2 million per leased location, on average.

But ... 49 of the sites cost $124.78 million, or about $2.5 million per location.

Another 24 sites are going for $18.4 million, or $767k/location.

These are leased locations, so there is a cost to remodel, but franchisees will likely pay for it. Probably a good decision to remain disciplined by Dutch Bros, because no matter how you slice it this is a really costly site acquisition.

You wonder how much this type of battle is playing out all over the place, because we usually don't get this kind of visibility. But the drive-thru beverage battle is not cheap.

Anyway, more here: https://t.co/HibrIcRhyq

[Jason Hernandez @JHernandezMM]

@grok @HarrisonKrank @grok now render your conclusion again, but take away reason and accountability.

[Jason Hernandez @JHernandezMM]

@DrJStrategy This started with Bernanke and it is the playbook. Excellent explanation.

[Jason Hernandez @JHernandezMM]

@Geiger_Capital QE QE QE....just keep printing baby. We made it to $40T, let's see how quickly we can get to $50T!

[Jason Hernandez @JHernandezMM]

@Geiger_Capital I’m old enough to remember when $30 trillion was terrifying

[Jason Hernandez @JHernandezMM]

@JesseKellyDC Had a conversation with my daughter the other night about how communists want to create more societal problems that foster instability and chaos so that they can provide “solutions”.

The light bulb went off.

She’s becoming an anti-communist.

[Jason Hernandez @JHernandezMM]

@WhiteHouse cool edit.

now get back to deporting foreigners, jailing fraudsters, lowering my taxes, deregulating everything, eliminating bureaucracies (like the dept of education), lowering fuel prices, increasing US manufacturing, and cutting spending.

[Jason Hernandez @JHernandezMM]

@rogerclemens - academy-style model and wish there were more teams built around it

- more practicing, less tournaments

[Jason Hernandez @JHernandezMM]

@EricLDaugh Ignore it. Impeach the judge.

[Jason Hernandez @JHernandezMM]

@nataliegwinters You know what this means?

More “hearings”! I bet they’re scared.

[Jason Hernandez @JHernandezMM]

@Milajoy 50

[Jason Hernandez @JHernandezMM]

@WesleyLHuff @elonmusk Wait until you accept the gift of faith

[Jason Hernandez @JHernandezMM]

@spencerpratt Not incompetent. Intentional.

[Jason Hernandez @JHernandezMM]

Rising Treasuries + Japan Market Pressures: What does it mean for STNL CAP Rates?

The 10-year treasury is approaching 5%, while the 30-year treasury just hit levels not seen since 2007 (around 5.2%).
Warsh is holding rates steady due to inflation risks.

Layer on the Japan situation, which adds further upward pressure on US yields and is likely going to get much worse.

So what do these latest market events mean for single tenant net-leased property values?

My take…

Long-term single-tenant assets behave like fixed-income instruments. Investors price them heavily off the risk-free rate (10-year Treasury) plus a risk premium for credit, lease term, location, and residual real estate risk.

• Higher Treasury yields raise the opportunity cost of capital. Investors demand higher returns (i.e., higher cap rates) to compensate.

• Spreads that were already historically tight leave less room to absorb the move without cap-rate expansion.

• Result: More upward pressure on CAP rates is likely in the near term for many STNL deals, which translates to declining property values (or wider bid-ask spreads) unless offset by uniquely high NOI growth, longer remaining lease terms (18+ years), and/or superior credit/location quality.

We’ve already seen bifurcation in the net-leased market: trophy/credit assets with strong real estate fundamentals have held up better, while more commodity or pure-credit plays have faced greater pricing pressure.

Bottom line for investors and owners:
Monitor the 10-year closely. Sustained yields in the high-4% to 5% range raise the floor under STNL cap rates. Underwriting needs to stress higher exit caps and tighter leverage. Quality still wins—focus on irreplaceable locations, long-term credit tenants, and properties with genuine real-estate upside rather than pure bond substitutes.

[Jason Hernandez @JHernandezMM]

@RealCJ10 would love your feedback to share with my 12yo son, CJ. he loves cage work and puts in the hours. thank you in advance!!

[Jason Hernandez @JHernandezMM]

@TomCottonAR Unfortunately, admitting they were wrong is the first step to blowing up their entire world view.

The vast majority will not. They will double-down.

[Jason Hernandez @JHernandezMM]

@WhiteHouse I’m excited for all the “hearings” and no one going to prison.

[Jason Hernandez @JHernandezMM]

@LifeNewsHQ Donate to @missionpreborn

[Jason Hernandez @JHernandezMM]

@CoachSwit Only if my son plays SS and bats lead off

[Jason Hernandez @JHernandezMM]

@FreddyLA7 now there’s an all American breakfast. 💪 #Dunkin