U.S. sale leaseback transaction activity rebounded in 2025, driven by improving merger and acquisition (M&A) markets and renewed corporate demand for alternative sources of capital, according to SLB Capital Advisors.
The U.S. sale leaseback market recorded 714 discrete transactions in 2025, representing a 3 percent increase from the prior year, while aggregate dollar volume rose 18 percent to approximately $14.4 billion.
Scott Merkle, managing partner of SLB Capital Advisors, said, “Activity meaningfully accelerated during the second half of the year, signaling growing momentum heading into 2026.”
Fourth-quarter activity was particularly strong, with sale leaseback dollar volume increasing approximately 56 percent to $4.7 billion in fourth quarter 2025, compared with roughly $3 billion in third quarter 2025, as larger transactions returned to the market.
The 2025 total also marked the first time since 2022 that annual sale leaseback volume exceede
