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Commercial Property Prices Unchanged in July, Signaling Stability
The Green Street Commercial Property Price Index was unchanged in July, the Newport Beach, CA-based research and advisory firm said. The all-property index has increased 1.7% this year and is now approximately 20% below its March 2022 peak.
“The downturn in property prices appears to be behind us now, as pricing has stabilized this year,” said Peter Rothemund, co-head of strategic research at Green Street. “For most property types, values are modestly higher than they were at the beginning of the year.”
On a month-to-month basis, pricing was flat for all property types. That said, pricing across the board was down 5% on a year-over-year basis and by varying amounts in individual sectors, with apartments showing the smallest annual decline at -2% and self-storage the largest at -13%. Industrial prices showed the second largest Y-O-Y decline at -10%, followed by office and healthcare at -9% each.
- ◦Sale/Acquisition
