NEWPORT BEACH, CA—The Green Street Commercial PropertyPrice Index increased by 1% in April. For the past year,property prices have been moving higher at a moderate pace.

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Prices are now, on average, 7% above thethen-peak levels seen in'07.

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“Property pricing continues to be firm. Cap rates have heldsteady, and in some instances, they've even moved down a little”said Peter Rothemund, an analyst at GreenStreet Advisors. “It's likely that continues. Real estatepricing currently looks attractive relative to pricing in thecorporate bond market.”

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Green Street'sindex is a time series of unleveraged U.S.commercial property values that captures the prices at whichcommercial real estate transactions are currently being negotiatedand contracted. Features that differentiate this index are itstimeliness, its emphasis on high-quality properties, and itsability to capture changes in the aggregate value of the commercialproperty sector.

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Founded in 1985, Green Street Advisors is the preeminentindependent research, trading, and consulting firm concentrating onReal Estate Investment Trusts, other publiclytraded real estate securities, and the private commercial realestate markets in North America andEurope.

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.