Commercial Property Price Index: February, 2024

Property Prices Hold Steady

Newport Beach, CA, March 6, 2024 — The Green Street Commercial Property Price Index® was unchanged in February. The all-property index—a measure of pricing for institutional-quality commercial real estate—is down 7% over the past year and 21% since its March ’22 peak.

“Property pricing has stabilized over the past couple of months,” said Peter Rothemund, Co-Head of Strategic Research at Green Street. “Commercial real estate is now fairly priced relative to corporate bonds, so pricing should hold at current levels.”