Green Street, a Newport Beach, CA-based company, announced on Wednesday that the Green Street Commercial Property Price Index remained unchanged in February. The all-property index measures pricing for institutional-quality commercial real estate and has decreased by 7% over the past year and 21% since its peak in March of 2022.
In January, there was a modest increase of 0.3% in pricing followed by flat month-over-month prices in February. According to Peter Rothemund, co-head of strategic research at Green Street last month stated that “For most property types, pricing has likely reached its lowest point.” However, office values are an exception as they are expected to continue declining.
Office values have seen the steepest declines compared to a year ago and their recent peak while apartment pricing follows closely behind. On the other hand,the lodging sector has shown better results over the past year and compared to its peak.
The image shows headquarters for Green Street.
The article titled “CRE Pricing Remains Unchanged in February Following Modest Increase” was originally published on Connect CRE’s website.
