The net lease commercial real estate market is undergoing a major transformation as technology-driven platforms bring institutional-level market intelligence to family offices and private investors. Firms such as B+E Net Lease are leading this change, combining traditional brokerage expertise with advanced data analytics to serve a growing segment of wealth holders seeking passive real estate investments.
A Tech-Driven Approach to Real Estate
Camille Renshaw’s journey from coding enthusiast to net lease brokerage leader highlights how technology backgrounds are changing commercial real estate. After selling technology companies in her twenties, Renshaw became interested in net lease properties as an investor before moving into brokerage.
“Net lease is a type of real estate where there’s one tenant and it’s very hands off for the landlord,” explains Renshaw, CEO and co-founder of B+E. “The tenant, be it McDonald’s, FedEx, hospital system, or restaurant—is responsible for all maintenance and janitorial. They also pay property tax and insurance directly.”
This hands-off structure makes net lease properties attractive for generational wealth transfer. “If it’s a 20-year lease, it’s really easy to purchase that toward the end of your career and leave it for your grandkids to run, even though they might not know much about real estate yet,” she says.
Balancing Human Expertise and Technology
B+E’s name—Brokers Plus Engineers—reflects a clear philosophy about technology’s role in real estate transactions. “We were making a bet on human plus tech,” Renshaw explains. “We really believe that’s the future. There’s going to be more and more technology, but we need people engaged with that.”
The company’s approach is similar to the medical field: “You don’t want a physician with no technology, but you don’t really want to be left alone with just the technology. You want confidence that you’ve got the best people with the best technology, and that they’re very good at communicating about the path forward, the risks, and opportunities.”
This philosophy has become especially relevant as artificial intelligence gains ground. Renshaw mentions that even her nearly 80-year-old mother has started using ChatGPT for research, showing how accessible AI is becoming across generations.
Real-Time Market Intelligence
B+E’s proprietary database offers insights that traditional brokers often overlook by combining on-market and off-market property data. The platform tracks both listed properties and those owners would consider selling at certain price points, providing a broad view of market dynamics.
Current market data highlights notable trends: “There are 70 Take 5 oil changes on the market today, 55 Pizza Huts, and two Kroger grocery stores,” Renshaw shares, noting that Pizza Huts average a 6.73% cap rate, 12.9-year terms, and $1.3 million price points.
This level of detail helps identify market movements as they happen. For example, casual dining properties decreased from 289 available properties last quarter to 277 this quarter, with cap rates compressing by five basis points, indicating increased investor interest.
Changing Investment Preferences
The platform’s data shows clear shifts in investor preferences. Car washes and convenience stores are seeing strong demand, partly due to favorable tax treatment that was recently reinstated. “Auto parts, auto service, early learning, and banking have gone into double-digit percentage gains,” Renshaw reports.
Unexpectedly, big box retail is seeing renewed interest after years of hesitation from investors. “Big box retailers have been somewhat unpopular, but they’re actually seeing a cap rate reduction right now, a 26 basis point decline,” she notes. “If you’ve got big box properties and you’re thinking about selling, it’s a much more positive time to do so.”
Industrial properties present a more complex situation. While demand remains high, supply has been limited as owners hold onto assets expecting higher prices. “We definitely have more demand for Class A industrial than we have supply,” Renshaw observes, though she adds that inventory is finally beginning to increase this quarter.
Car Wash Sector Consolidation
Looking ahead, Renshaw anticipates significant consolidation in the car wash sector, echoing what happened with quick-service restaurants in previous decades. “We’ve had a lot of PE firms come in and provide institutional guidance to these car wash operators. There’s been a lot of M&A activity, and I would forecast even more roll up to the biggest operators.”
This trend, along with favorable tax treatment, is positioning car washes as a new institutional favorite. The sector’s evolution reflects how fragmented restaurant chains grew into major corporate brands with strong operational systems and brand recognition.
Market Opportunities and Misconceptions
Despite current market conditions, Renshaw believes many investors are missing favorable financing opportunities. “People don’t realize what attractive debt they’re capable of getting,” she explains. “If you can get debt at a 5.5% interest rate over a 30-year term with 60-65% LTV, it’s a wonderful time to buy an asset that qualifies for that debt.”
Many buyers are holding off due to higher residential mortgage rates, assuming commercial rates will be similarly high. However, commercial lending often offers better terms depending on the asset type and tenant credit quality.
The Impact of Wealth Transfer
A significant trend affecting net lease investment is the current wealth transfer to women. “There is the largest transition of wealth going to women ever occurring right now,” Renshaw notes. “Women live longer and are coming to have great fortunes they need to manage in relation to their children, grandchildren, and charities they care about.”
This shift is creating new demand for passive investment vehicles like net lease properties, especially among investors who may not have previously participated in 1031 exchanges or commercial real estate.
Strategic Asset Management for Families
For families entering the net lease market, Renshaw suggests starting with familiar property types. “The wonderful thing about retail is that we’ve all been in those locations. If I mention a 7-Eleven in Denver, most likely the client has been to Denver and has been in a 7-Eleven.”
She also stresses the need for regular asset valuation, even for long-term holds. “Families don’t have the rigor to have their properties priced every year or two, and they need to do that even if they’re not going to sell. They need annual checkups to determine the best moment for selling.”
Technology’s Expanding Role
As the net lease market becomes more data-driven, combining advanced analytics with human expertise is proving valuable for navigating family wealth strategies. B+E’s approach—using technology for market intelligence while maintaining personal relationships for strategic guidance—may represent the future of commercial real estate brokerage.
The company’s achievements, from million-dollar transactions to major deals like Bass Pro Shops’ $324 million sale-leaseback, show how technology-enhanced brokerage can effectively serve both institutional and family office clients. As more wealth transitions to the next generation and passive income strategies become more popular, this model of data-driven, relationship-focused commercial real estate services appears well positioned for continued growth.
