- May 22, 2017
U.S. pricing per square foot, based on independent reports of properties and portfolios of $2.5 million and greater
Price per square foot in the transactions of the first quarter of 2017 for all property types had an average value of $197,000, with CBD office and mid- and high-rise apartment properties commanding the highest values, at $380,000 and $236,000, respectively. CBD office peaked in the second quarter of 2016 at $433,000 per square foot and experienced a 24 percent decline in the following quarter. The industrial sector had the smallest price per square foot, at $81,000, but increased by 4 percent over the first quarter of 2016, followed by an increase of 0.7 percent in the price per square foot of garden apartments. Year-over-year, mid- and High-rise apartment properties, as well as CBD office and retail property, ranked among the bottom performers, with price-per-square-foot decreases of 7.7 percent for the apartment subsectors and 6.5 percent for CBD office and retail.