NEWPORT BEACH, CA-The Green Street Commercial PropertyPrice Index was unchanged in September. Property pricingcontinues to drift sideways as the sharp increase in interest ratesthat occurred earlier this year has put a brake on thefour-year-long recovery in property values.
“After a very strong upward run, property pricing appears tohave settled in” said Peter
Rothemund, an analyst at Green StreetAdvisors. “It's likely that continues. Valuations lookfair compared to interest rates that are much higher than they weresix months ago, so there's no reason to expect a substantive movein property values.”
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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.
