Industrial

IRVINE and SILICON VALLEY, CALIF. — Commercial real estate valuations increased by 1.1 percent in July, marking the strongest monthly increase this year and a 5.2 gain over last year, according to the latest Ten-X Nowcast. Ten-X, an online real estate transaction marketplace, uses Google Trends data, its own proprietary transaction data and investor surveys to forecast commercial real estate pricing trends. “The recent string of monthly increases confirms that overall pricing of commercial real estate remains on the upswing following the weakness seen earlier this year,” says Ten-X chief economist Peter Muoio. “That said, we are noticing distinct differences across the five major property sectors, with each telling its own story.” The office, apartment and retail sectors all saw monthly increases in July. The office sector posted the strongest gain for the second consecutive month, rising 4.8 percent from June and 7.6 percent above its level from one year ago. This was the best year-over-year gain for any of the commercial sectors since January. The multifamily sector, which has posted steady gains this year, increased 1.1 percent in July from the previous month and is 6.8 percent above last year’s level. “The apartment sector is unencumbered by technology-driven shifts …