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Green Street: CRE Pricing Posts 0.8% Monthly Decline
The Green Street Commercial Property Price Index decreased by 0.8% in June. The index, which tracks the pricing of institutional-quality commercial real estate, is down 16% from its March 2022 peak.
“Transaction volumes are depressed as sizable bid-ask spreads persist, and debt capital remains more expensive and harder to access,” said Alex Boyle, analyst on data & analytics at Newport Beach, CA-based Green Street. “Pricing changes have varied significantly across property sectors; office values are down more than 30% since the March ’22 peak, while lodging and industrial values have proven more resilient.”
The largest declines on both a monthly and year-over-year basis were posted by the office sector, which dropped 6% between May and June and 27% since June of 2022. However, only industrial saw a pricing increase during June, and all property types experienced declines from both a year ago and from the recent peak.
- ◦Sale/Acquisition
