S&P/GRA Indices Show Slight CRE Price Rise

Commercial real estate prices rose 0.1% in March on a national basis and recorded a 12-month increase of 5.1%, according to the S&P/GRA Commercial Real Estate Indices. The indices showed a 7.7% 12-month rate of return for the apartment sector, and a 10.3% rate for the Pacific West, S&P reported. The worst 12-month performances were recorded in the office sector, 2.3%, and the Desert Mountain West, negative-0.2%, according to the company. "In the property sector, warehouse was the star performer during the March/February period, up 0.9%," said David Blitzer, managing director and chairman of S&P's Index Committee. "The three other property sectors reported small positive returns." The indices can be found on the Web at http://www.spcrex.standardandpoors.com.