IRVINE, CA—Commercial property valuations have appreciated at the slowest pace in two years, according to Ten-X. In its latest Ten-X Commercial Real Estate Nowcast, the online real estate marketplace and GlobeSt.com Thought Leader says valuations across the five major commercial real estate sectors increased 19 basis points in January from the previous month, a sluggish pace not seen since early 2014.

“The first reading on commercial property markets in 2016 shows property values increasing, but still at a slower pace as the previously divergent growth rates of the different property segments continue to converge,” says Peter Muoio, Ten-X’s chief economist. That shouldn’t be taken to mean that the results were uniform across the board, though: Ten-X notes that valuations increased in three sectors and declined in two.

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