With REITs down 30%, the net lease could be the play that turns things around, JLL's Matthew Berres says, especially with multi-year leases at office spaces REITs own and manage. The structure provides cash flow with little maintenance and management costs (and headaches), but it also allows REITs to build portfolios and presences across many markets, Matthew says. Just a few years ago, the single tenant net lease space was a niche area before investors found the benefits of this low-risk area. Since REITs usually deal with large amounts of capital, net leases can secure a solid return that outpaces interest rates and even inflation. In the triple net lease space, the 1031 Tax Exchange Code is a good draw, since landlords have limited responsibilities and earn tax breaks after making the proper investing swap. But where should investors look? Secondary markets, Matthew says. Because every $5 of demand meets only $1 of supply, investors need to saddle up their confidence and go into secondary markets when chasing high yields. [GS]