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Medical Office Building Construction Remains Strong In Starts And Completions

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Although many healthcare real estate (HRE) professionals correctly predicted that medical office building (MOB) sales would remain strong during the COVID-19 pandemic, they did express some concern that construction numbers would fall as providers would be forced to focus on myriad other concerns than moving into new buildings.

But that hasn’t been the case so far.

“Medical office construction has remained very strong throughout COVID, both in terms of starts and completions,” said Hilda Flower Martin, a principal with the HRE research and data firm, during a Jan. 26 Revista webcast. “Completions slowed a little bit towards the end of the year (2020), but starts remain pretty much in line (with past years), as there was about 20.9 million square feet of MOB space started as of the fourth quarter (Q4) of 2020 on a trailing 12-month basis (TTM). The MOB projects being built are typically well pre-leased and continue to get larger.”

 

Source: HREI

Medical Office Buildings Have Remained Strong Through It All

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As was predicted, albeit with some caution, medical office buildings (MOBs) have held up very well from as an investment and property type since the onset of the COVID-19 pandemic.

This statement comes not just from an anecdotal point of view, but from one of statistics and data.

During the Healthcare Virtual Conference 2020 sponsored and webcast Sept. 24 by Seattle-based Colliers International, Mike Hargrave, principal with healthcare real estate (HRE) research and data firm Revista, provided the most recent data concerning the health of the MOB product type. Mr. Hargrave provided the virtual audience with a lot to chew on during the “Revista Lunch and Learn” presentation.

 

Source: HREI

 

Five Fast Facts: A Quick Shot Of Healthcare Trends

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Cushman & Wakefield’s Healthcare Advisory Practice presents five trends related to medical office investment. From sale activity to leasing and absorption to GDP spending, this growing sector plays a significant role in the country’s economy.

The trend toward lower cost outpatient care and an aging MOB inventory are fueling everything from a rise in Urgent Care centers to growth in medical office rents to consistent construction output. The sector continues to look strong through the end of 2019. See below for Cushman & Wakefield‘s summary of Q3 medical office trends.

Source: HREI