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GlobeSt. Influencers In Net Lease – Bill Asher & Jeff Lefko

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Net lease is the backbone of the commercial real estate industry. An unassuming asset class—or perhaps better put, real estate strategy—net lease investment volume increased by 10.9% to a record $77.5 billion last year, according to CBRE. But don’t let the bread-and-butter nature of these deals fool you. They can require as much work and planning as larger deals in other asset classes. The people and teams and companies that work this space are, by necessity, rigorous and meticulous in their transactions. In the following pages, we bring to you our selection of the best deal-makers in the space. They may not be the largest or most well-known; instead we selected them for the significant contributions they have made to the industry.


Hanley Investment Group’s EVPs, Jeff Lefko and Bill Asher consistently present tremendous value to clients, while setting countless nationwide net lease records. Creating win-win opportunities for buyers and sellers, their dedication, “client-first” mentality and entrepreneurial mindsets have expanded the firm’s national reach. Based in Southern California, the two specialize in bringing capital out-of-state, and have become leading investment sales brokers in multiple US cities. The team serves as one of the top three most active net lease teams in the Midwest, with more than $400 million in Midwest transaction volume. With incredible market awareness and intuition, the team has accomplished the lowest cap rate for a multi-tenant, net-leased property and the highest price-per-square-foot for a multi-tenant, net-leased property. Providing complementary skill sets to each deal, the two constantly achieve or exceed target pricing for each transaction. As the company’s youngest-ever EVP, Lefko leads the firm in transaction volume and works to proactively advise clients on their long-term financial goals. As a founding member of the company, Asher has more than 20 years of experience in advising clients on retail acquisitions and dispositions, as well as implementing strategic marketing initiatives and corporate advertising objectives. Within the past three years, the team closed or currently has in escrow 194 properties, valued at nearly $1 billion. Achieving the lowest cap rates for various, prominent single-tenant and multi-tenant retailers, the team has additionally completed the most net lease car wash sales in the nation; exposing the assets as a viable product type and unlocking significant value for operators. Establishing practices that are frequently emulated by industry professionals, the team is often recognized for its unmatched integrity and impeccable hands-on approach throughout the lifecycle of a project.

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