Green Street: Property Pricing Up 5% from a Year Ago

The Green Street Commercial Property Price Index increased 1.0% in July 2026. Over the past 12 months, the all-property index has increased 5.2%.

“Prices are up 5% over the past year,” said Peter Rothemund, co-head of strategic research at Newport Beach-based Green Street. “Rental income is 2-3% higher over that time, and the remainder of the appreciation is from lower cap rates for select property types. I don’t think we’ll see further declines in cap rates. Real estate fundamentals are healthy, but elevated interest rates are a headwind.”

By property type, mall pricing has seen the greatest appreciation over the past 12 months, according to Green Street data. Conversely, pricing for apartments and self-storage properties has been flat or nearly flat over the same period. Office pricing remains in the deepest trough from its 2022 peak, with pricing still down 34% compared to four years ago.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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