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CRE Pricing Posts Modest Increase in January
The Green Street Commercial Property Price Index increased modestly in January, rising 0.3% from the end of 2023. The all-property index, a measure of pricing for institutional-quality commercial real estate, nonetheless is 21% below its March 2022 peak and down nearly 9% on a year-over-year basis.
“For most property types, pricing has probably hit its low,” said Peter Rothemund, co-head of strategic research at Newport Beach, CA-based Green Street. “Office is an exception to that. Values in the office sector are expected to continue to decline.”
The office sector has posted the sharpest pricing declines on both a Y-O-Y basis and in comparison to the 2022 peak, according to Green Street data. Apartments posted the strong month-over-month pricing rebound, although the sector is still down Y-O-Y and compared to the peak.
- ◦Sale/Acquisition
