The Green Street Commercial Property Price Index increased 1.0% in July 2026. Over the past 12 months, the all-property index has increased 5.2%.

“Prices are up 5% over the past year,” said Peter Rothemund, co-head of strategic research at Newport Beach-based Green Street. “Rental income is 2-3% higher over that time, and the remainder of the appreciation is from lower cap rates for select property types. I don’t think we’ll see further declines in cap rates. Real estate fundamentals are healthy, but elevated interest rates are a headwind.”

By property type, mall pricing has seen the greatest appreciation over the past 12 months, according to Green Street data. Conversely, pricing for apartments and self-storage properties has been flat or nearly flat over the same period. Office pricing remains in the deepest trough from its 2022 peak, with pricing still down 34% compared to four years ago.

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