A significant portion of outpatient construction has been concentrated in top markets in recent quarters. As of 3Q21, 15.3 million square feet, or 32% of the entire US pipeline of medical office construction was located in just 10 metros. Most of these markets are also the largest markets by population and total existing inventory. Two notable exceptions are Columbus, OH and Orlando. Both markets clear 10%+ of inventory currently in progress compared to 3.1% nationwide. Columbus has several large multispecialty outpatient centers under way by OSU Wexner which really pushes their total up. Orlando has quite a few projects under way – 4 of them are freestanding emergency rooms which continues a trend seen significantly across Florida’s metro areas. Get more detail on these and other metros by subscribing to Revista!
