Commercial real estate transaction activity accelerated in the first half of 2026, with sales of larger properties up nearly 30% from the same period last year, according to Green Street.
Green Street tracked $164 billion in sales of commercial properties valued at $25 million or more between January and June, compared with $126 billion during the first half of 2025. Sales of smaller properties also increased. Transactions involving properties valued between $5 million and $25 million reached $57.1 billion, up 9.3% from $52.3 billion a year earlier.
Larger Deals Drive The Recovery
The increase was particularly strong among transactions involving a sell-side adviser, which rose 39.3% year over year.
Green Street’s figures were compiled from responses from roughly 40 brokerages, along with property records, published reports and press releases.
Financing has also become more available. Major banks have increased their CRE lending, with Goldman Sachs issuing $40 billion in commercial real estate loans during the second quarter, a 21% increase from the same period last year, according to BisNow.
AI And Distress Are Fueling Deals
The construction of AI data centers has become an important source of transaction and financing activity as major financial institutions seek exposure to the sector.
Distressed properties are also contributing to sales. Office buildings affected by reduced demand since the pandemic and properties facing loan maturities have continued to trade as owners and lenders work through higher borrowing costs.
The Federal Reserve has kept its benchmark interest rate unchanged for five consecutive meetings, maintaining pressure on financing costs even as transaction activity improves.
Despite the challenging rate environment, some CRE investors are looking for opportunities created by distressed sales and discounted assets. Green Street’s midyear findings suggest that buyers and sellers are becoming more active even as they remain cautious about the economy.
