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Green Street: Commercial Property Pricing Slips 0.6% in January
The Green Street Commercial Property Price Index decreased by 0.6% in January. The all-property index has fallen 14% from its March 2022 peak, while the index tracking properties in core sectors is down 17%.
“Commercial property prices are down about 15% from their peak,” said Peter Rothemund, co-head of Strategic Research at Green Street. “Most investors would probably agree with that, even if the yearly appraisal of their properties might suggest otherwise. So, while appraisals are likely headed lower, the real-time picture of property pricing shows a market where we’ve either reached bottom or are very close to it.”
Not all property sectors experienced monthly pricing declines in January. Industrial, strip retail, healthcare properties, lodging, manufactured housing, net lease and self-storage were unchanged from December 2022.
However, all property types were down from their recent peaks, with apartments and malls posting the biggest declines.
- ◦Sale/Acquisition
