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Marcus & Millichap predicts that medical office vacancy will decrease to 9.2%, down 20 basis points and 40 basis points above pre-COVID levels. Meanwhile, the firm predicts rent growth in the neighborhood of 2.5% to an average of $22.61 per square foot,
The roughly 1,000,000-square-foot, 22-building campus was sold by Crescent Real Estate. About 15% of Flatiron Park is home to life sciences tenants and part of BioMed’s investment will be upgrading buildings to bring that percentage closer to 50%. As the local portfolio grows, the company which also has a development arm, may consider adding administrative and support offices in Colorado.
A new breed of investors are seeing big opportunities in buying up single-tenant properties with a focus on buying medical office buildings and leasing them back to physicians, which have a lower risk of vacancy than restaurants or retail stores.
MedSpace USA is a national healthcare real estate development firm based in Florida offering a full range of development services.
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