I do think it is a good time, with a few reservations. Prices are generally lower than I have seen them in a long time. Many properties are stable and well-performing. Lenders in most areas have money to lend at historic low rates, but their lending criteria are more stringent than they have been in the past. Alternative investments that offer yield without outrageous risk and volatility are very hard to come by.
That said, I think there are types of commercial property investments that continue to be dangerous. Some markets are still highly challenged (Las Vegas, Detroit), and likely to remain so. Some property types have been hit harder than others, and will continue to echo the uncertainty of the economy (hospitality). Leasing is still a challenge, so properties with high vacancy can linger with that vacancy for a long time. It's still a tenant's market in many areas.