While the level of U.S. job growth hasn’t been very pleasing, the commercial real estate pricing recovery has continued and spread throughout the various sectors. The gains have made their way from institutional-grade buildings down to smaller general quality properties. According to CoStar’s latest CCRSI report,
…the two broadest measures of aggregate pricing for commercial properties each posted gains in May over year-ago levels, based on 853 repeat sales recorded during the month and more than 100,000 repeat sales since 1996. The commercial property pricing lift can also be attributed to the rising occupancy levels in most markets and increasing rents in the multifamily sector.
To read more on the pricing recovery spreading throughout the various commercial real estate sectors visit CoStar Group, and call Morris Southeast Group if you need commercial real services in the South Florida area.