Commercial property values rose 5% in April, according to Green Street Advisors' Commercial Property Price Index, continuing an upswing that began earlier this year and has now reached 20% compared with last year. But transactions still are not occurring in large numbers, Chairman and Director of Research Mike Kirby says. "With the exception of a few distressed transactions, sellers are not really feeling pressured to act," he says. "Their lenders are not forcing their hands, so they can take their time."

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