NEWPORT BEACH, CA-An uptick in interest rates has begun having the opposite effect on commercial property values, Green Street Advisors said Tuesday. The company reported that its monthly Green Street Commercial Property Price Index declined by 1% in July.

“Property values have enjoyed a robust recovery over the last four years, more than recouping all the ground that was lost during the financial crisis,” the firm says in its latest report. “That recovery has been put on hold as increases in interest rates weigh on pricing.”

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