Green Street Commercial Property Price Index experienced a 0.1% decrease in April, indicating a 15% drop since property prices peaked one year ago. Peter Rothemund, co-head of strategic research at Green Street commented on the situation: “Prospective sellers may not accept it, but bid prices for most commercial properties are significantly lower than they were last year.” The decline was seen across all sectors tracked by Newport Beach-based Green Street with office suffering the biggest Y-O-Y drop in pricing at 25%, and lodging outperforming any other sector in terms of values. Apartments followed closely behind office for price drops.
“Owner of Hollywood Office Purchases Adjacent Property”
The property at 747 Seward St. in Hollywood has been purchased by Brian Ballard, founder of bipartisan lobbying and PR
Steve Griffin
November 14, 2024
