Office Property Sale Prices – Sale Trends

The median sale price per square foot for office properties in the metro area has risen 4.9%. There was a 11.8% decline earlier this year during a five-month period ending in July. For office properties, the average sale price per square foot has risen to $66.94, a 3.6% increase compared to the end of last quarter. But for the previous 12 months, sale prices are down, showing a 8.1% decline. The highest median sale price over the past three years, which was $144.40, was set in October 2009. In comparison, the current median sale price is down by 53.6%. However, the current price is 4.9% above the three-year-low of $63.84 set in July 2012. Source - LoopNet