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Green Street Advisors' Commercial Property Price Index Gains Slightly

The Green Street Advisors Commercial Property Price Index rose 1 percent last month. Property values have risen 20 percent since May 2009, which they reached their lowest point, but they are still 25 percent below a 2007 peak.

Transaction volume is still low, but pricing for recently closed or active transactions remains high.

"The rebound in pricing that began in earnest last fall has become more vigorous in recent months. Sellers are feeling less pressure to act, the outlook for fundamentals has improved, well-capitalized buyers are plentiful, financing markets are recovering, and return requirements across capital markets have come down. Prices have now returned to early '05 levels, but they remain well below the levels that prevailed in '06 and '07," said Mike Kirby, director of research at Green Street.

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