The Green Street Commercial Property Price Index, a time series of unleveraged U.S. commercial property values that captures the prices at which commercial real estate transactions now are being negotiated and contracted, decreased by 0.2 percent in March.
According to a recent report, the index has fallen by 15 percent since property prices peaked a year ago.
“Transaction volumes remain low, but our estimates put the bid price about 15 percent lower than it was a year ago,” said Peter Rothemund, co-head of strategic research at Green Street. “The change in pricing varies by property type. Office has seen the largest price declines, where even high-quality properties are down 25 percent over the past year.”
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