Commercial Real Estate Prices Show Gains
Green Street Advisors, independent research firm, reported that its commercial property price index rose 2 percent in November and was up 30 percent from the industry low in 2009.
"Half of the decline in values that occurred from 2007 to 2009 has been eradicated. Nevertheless, values remain roughly 20 percent shy of their peak," said Mike Kirby, director of research for Green Street.
Unlike many indexes, which are based on closed transactions, Green Street records transactions as they go under contract.
Source: Green Street Advisors (12/02/2010)
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