SURMOUNT’s $3.9B First Year Redefines Net Lease Landscape

NEW YORK, NY – February 18, 2026 – In a year marked by market stabilization and cautious optimism, newly formed real estate powerhouse SURMOUNT has announced a landmark inaugural year, closing $3.9 billion in sales volume across 1,250 transactions nationwide. The performance not only validates the firm's ambitious consolidation strategy but also serves as a potential bellwether for renewed activity in the commercial net lease sector.

SURMOUNT launched in 2025 through the strategic merger of three industry leaders: NNN Pro, STNL Advisors, and the development firm United Global Development Co. (UGDC). The move created a unified, full-service platform in a market often populated by single-service brokerages, a bet that appears to have paid off handsomely.

A Calculated Bet on Consolidation

The formation of SURMOUNT was a deliberate move to create a comprehensive real estate ecosystem. By integrating brokerage, sale-leaseback advisory, development, capital markets, and principal investing under a single brand, the firm aimed to offer clients end-to-end solutions throughout the real estate lifecycle. This contrasts with the traditional model where clients might need to engage multiple firms for different services.

“2025 was a defining year,” said Glen Kunofsky, Founder and CEO of SURMOUNT, in a statement. “Launching SURMOUNT and delivering for our clients at scale reinforced what I've believed for over 25 years: if you invest in people, relationships and execution, the results will follow.”

The success of this integrated approach is evident in the performance of its new divisions. The SURMOUNT Capital Markets Division, led by industry veteran Christopher Marks, closed over $300 million in loans during its first year. Simultaneously, the integration of UGDC's development capabilities under Chief Development Officer Stephen Andrews brought a portfolio of 200 lifetime development projects into the fold, providing an immediate pipeline and demonstrating the platform's construction and development prowess. This synergy allowed SURMOUNT to capture diverse revenue streams and provide holistic advisory that extends far beyond simple transactions.

Thriving Amidst Market Headwinds

SURMOUNT's $3.9 billion achievement is particularly noteworthy when viewed against the backdrop of the 2025 commercial real estate market. The net lease sector, while resilient, was not immune to the effects of fluctuating interest rates. The first half of 2025 saw a significant slowdown in transaction volume, with one quarter ranking among the weakest in over a decade for single-tenant net lease sales.

However, as the Federal Reserve held rates steady through the year, a sense of stability returned. This stabilization, coupled with growing investor confidence, set the stage for a second-half rebound. SURMOUNT's performance suggests it was exceptionally well-positioned to capitalize on this shifting sentiment.

“Combined with stabilizing interest rates and growing capital deployment, we're seeing renewed investor appetite across all property types,” noted Nicoletti DePaul, SURMOUNT's Chief Operating Officer. “With improving market sentiment, more active capital and growing opportunity for disciplined execution, we feel well positioned for the year ahead.”

This optimism is echoed by broader market forecasts. Analysts at major firms like Colliers and CBRE are predicting double-digit growth in U.S. commercial real estate transaction volume for 2026, fueled by narrowing bid-ask spreads and an anticipated rise in M&A activity, which often generates a new wave of sale-leaseback opportunities.

The Power of Niche Dominance and Policy Influence

While the firm’s scale is new, its expertise is deeply rooted. A key pillar of SURMOUNT's success is its commanding position in specialized market segments. The company reports it controls approximately 75 percent of the market share for car wash transactions nationwide, a niche where it consistently closes over $1 billion in volume annually. This dominance in a resilient, high-demand sector provides a stable foundation for its broader operations, which in 2025 spanned 46 states and included property types from medical offices and restaurants to industrial facilities and grocery stores.

Beyond transactional dominance, SURMOUNT has leveraged its expanded scale to become an influential voice in policy discussions. The firm played an instrumental role in advocating for the restoration and permanent extension of “100% bonus depreciation” for eligible commercial real estate assets. This powerful tax incentive, which allows businesses to deduct the full cost of qualifying assets in the year of purchase, had been phasing out.

In July 2025, Congress passed legislation that made the 100% bonus depreciation permanent, a move hailed as a significant victory for the commercial real estate industry. SURMOUNT immediately demonstrated the policy's impact, facilitating over $1 billion in bonus depreciation-eligible asset sales in 2025 alone. This not only provided immediate value to clients but also positioned the firm to capitalize on the accelerated investor demand that the tax benefit is expected to drive.

Building for Sustained Growth

The firm’s first-year results are not being treated as a culmination but as a launchpad. The company has aggressively expanded its operational footprint, reporting a 40% growth in its professional team since 2023, which now numbers 140 people. This expansion includes the launch of SURMOUNT California and an extended advisory reach into key European markets.

Future growth is already being built into the company's infrastructure. SURMOUNT is set to open a new Los Angeles office in 2026 and will move into a new flagship headquarters at 1185 Avenue of the Americas in New York City in the spring of the same year. This physical expansion, combined with the formation of a new Leadership Advisory Board comprised of real estate executives, signals a clear commitment to scaling its model and cementing its market position. With a robust 2026 transaction environment anticipated, SURMOUNT's unified platform appears strategically built to not only navigate but also shape the future of the net lease market.