Hospital Construction Pipeline Swells to 79M Square Feet
The amount of hospital space under construction is continuing a multi-year climb, now at a level of 79 million square feet. With an estimated value of $93 billion, the . . .
The MOB Scene
The Divergence in Base Rent Trends
The idea of a K-Shaped economy is a much talked about topic these days. The concept is that higher earners are doing quite well while those in lower to middle income brackets are struggling with stagnant wages and higher costs.
Which MOB Markets have the Most Concentrated Ownership?
To answer this, we analyzed how MOB square footage is spread across all the owners in each of the top 125 markets. The chart below lists the most concentrated markets, with . . .
Here Are the Most Active Metros for MOB Transactions
RevistaMed tracks medical office (or medical outpatient) building transaction activity across the US and has a time series back to 2013.
Sales Activity Across Different Types of Healthcare Real Estate
Medical real estate seems to be in a tide shift when it comes to sales activity. With a second 25-bps cut in the federal funds rate and the announcement of the Remedy/Welltower transaction, we already know 4Q . . .
MOB Occupancy Rate Hovering at Cyclical High
The Medical Outpatient Building or Medical Office Building sector (both MOB) is at a cyclical high in 3Q25.
Fundamentals in Fast Growing Core Markets
How have the fundamentals held up in fast growing markets? In the chart below, we are showing the 10 metro areas with the largest MOB inventory growth over the past 5 years. Only the top 50 largest markets were considered, so we are focusing on well-established areas. Raleigh showed the . . .
Is MOB Construction Beginning to Rise?
Those involved in MOB construction have felt the challenges with getting projects started the past several years. First, the Covid-19 pandemic created supply shortages and then the onset of inflation caused construction costs to rise significantly.
Outpatient & Inpatient Employment Growth
Growth in the healthcare industry has continued to outpace the overall job market and we continue to hear in the BLS monthly job report that healthcare and social assistance is a leading contributor of job growth. The largest gains tend to be on the . . .
Rehabilitation hospital construction showing signs of rising in 2025
While outpatient construction has slowed down inpatient construction is holding steady to rising. As you may know, Revista tracks inpatient general acute care hospitals, behavioral health hospitals, and inpatient rehabilitation hospitals (IRFs). Within the IRF sector, Revista currently tracks over 500 rehabilitation hospitals in the US. The sector has seen tremendous growth since 2014 growing from 306 open IRFs to 510 open IRFs as of 6/30/2025. That’s growth of 67%!
Hospital Performance Impacts Outpatient Occupancy & Rent
With the passing of the One Big Beautiful Bill, many hospitals across the country will be facing additional financial pressures in coming years. Millions of people are estimated to lose …
Medical Space in the Most Populous Metros
Nearly 70% of the medical office space in the US is located within the top 100 metro areas. The New York metro area alone makes up close to 5% of the national total. Urban areas contain the bulk of the population and medical space, but . . .
Revista Releases the 2025 Top Owners of Medical Real Estate Report
Revista has updated and released to subscribers the 2025 Top Medical Real Estate Owners Report.
The 2025 Top Medical Real Estate Owners Report provides summary and detail analysis on the 50 US largest owners of medical real estate.
MOB Construction Update
MOB construction has been slower than usual in 2025. Less projects are breaking ground than are completing, so the pipeline has been shrinking. In recent times, inventory has typically grown around 1.5% annually. Over the past year MOB inventory has grown . . .
The Return of the Portfolio Premium
The graph below displays Average MOB cap rate trends for Portfolios vs. Single Properties. From 2017 through 2022, the Average Cap Rate for MOB Portfolios was 63 basis points lower than single MOB properties that traded.
Limited Transaction Volume to Start 2025
The preliminary 1Q25 numbers are in, and they show that transaction volume has been slow to kick off the year. $1.5 billion worth of MOBs traded in the 1st quarter, and $8.9 billion traded over the past year. This suppressed level of activity is . . .
A Look at 1Q25’s highest occupied Medical Office Market
That’s right! With a 1Q25 occupancy of 96.9%, Asheville NC is the highest occupied market of the largest 125 metros RevistaMed tracks each quarter. Asheville, which is still recovering from the effects of Hurricane Helene in September of 2024, can find strength within its healthcare market and within the MOB sector.
Rising Rents for Newly Built MOBs
How have rising construction costs affected rents? Revista’s construction data continues to show increases in the cost of building an MOB. The average cost per square foot came in at $549 for completed MOBs in 2024. That is a . . .