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CRE Pricing Continues Gaining Strength in August
Commercial property prices continued to strengthen in August with all major sectors posting annual gains, MSCI Real Assets reported. The RCA CPPI National All-Property Index rose 2.4% year-over-year for the sharpest increase since late 2022 and gained 0.9% from July, translating to an annualized pace of 11.1%.
Retail continued to lead the market in August with a 5.3% annual increase and a 0.4% monthly gain, representing the 15th consecutive month of growth. Industrial was a close second with a 5.0% Y-O-Y gain and a 0.8% increase from July.
Although apartment prices were unchanged from July, they inched 0.2% higher from a year earlier, the sector’s most meaningful annual gain since late 2022, according to MSCI Real Assets. CBD office prices rose 0.7% compared to a year ago and 0.6% from July, while suburban offices recorded more modest gains, up 0.3% on both an annual and monthly basis.
Pictured: Lakewood Center, a two-million-square-foot regional shopping center in Lakewood, CA that traded for $332 million in August.
- ◦Sale/Acquisition
