Revista 3Q24 Subscriber Webinar – Abridged Slides
Last week, Revista held its subscriber webinar for 3Q24. For a limited time, an abridged version of the slide deck will be available as a free resource at the following link . . .
Construction/Development
2Q2024 Snapshot
What direction has the MOB market been going in 2024? In this article we are focusing on the Top 100 metro areas. The table below shows a snapshot of the changes observed for key metrics in the second quarter of this year. Inventory continued . . .
Population Growth = More Demand for MOB Space
When developing an investment strategy, many investors will focus on geographic areas that have a high level of population growth. But does population growth translate into more demand for space? …
Which Markets have the Largest Construction Pipeline Relative to Their Size?
Typically, when we report the top construction markets, markets are ranked by the total square footage that is under construction. In the table below we are instead sorting by this number relative to the market size. This highlights some of the smaller markets that have a lot of supply growth in the pipeline. Madison, WI . . .
Medical Office Inventory Growing at a Slower Rate
Over the past year or two, new construction projects have faced the headwinds of elevated labor, material, and financing costs. Because of this, we are now seeing inventory growth running at a slower pace. The graph below shows the amount of MOB square footage that finished construction on an annual basis, as a percentage of the inventory. The average over the past 10 years is about . . .
RevistaMed Updates the Size and Scope of the Medical Real Estate Sector 2024
Revista has updated its annual look at the size and scope of the health care real estate sector. This update measures the real estate size and value of general acute care hospitals and outpatient buildings across the contingent United States.
Construction is Strong for Behavioral Health and Rehab Hospitals
Recently, the number of new construction projects has been low for the medical real estate industry. However, certain property types have been going against the current and have seen higher activity than usual. Two that stand out are . . .
A look at the Columbus, Ohio outpatient real estate market
Columbus, Ohio is the 21st largest market RevistaMed tracks in terms of outpatient or medical office square feet. Columbus has been in growth mode for the past few years from a healthcare real estate perspective.
2024 Outpatient Development Report
In partnership with Health Care Real Estate Insights (HREI), Revista has published their annual outpatient development report. The 2024 report covers all medical outpatient real estate developments that either broke ground or completed in the previous year . . .
A Look at Revista’s Highest Occupied MOB Market
The Revistamed Metro Rankings page provides an easy way to quickly measure the top 125 metro areas on key medical office metrics. The columns are sortable and users can also download the data to xls where even more columns will populate
Here are the Top 10 Demand Markets for Medical Office as of 4Q23
During the presentation we discussed the top 10 demand markets (out of the largest 125). We ranked the markets top to bottom based on trailing twelve month (TTM) net absorption (defined as TTM absorption minus TTM completions).
Has Construction been Concentrated in Larger or Smaller Markets?
2023 was a slow year for medical office developments, with around 12 million square feet of projects that broke ground. This is about 45% lower than the average over the past decade. However, 12 million square feet is still a substantial increase in supply, and it is interesting to observe how different markets are reacting. In the graph below
The Revista 4Q23 Subscriber Webinar – Abridged Slides
Revista held its 4th quarter, 2023 subscriber webinar recently. During the webinar, it was reported that occupancy rates were continuing to rise for Medical office properties in the top 50 metros.
HCRE Construction Spending Peaks in 2023
Healthcare Real Estate (HCRE) spending on construction has established a recent peak in 2023. Revista tracks Hospital and Medical Office (or Outpatient Medical) construction based on total project values including land, hard and soft costs and buildout.
MOB Construction Projects, Are All Types being Affected Uniformly?
If you have been staying up to date with Revista’s most recent construction data, you know that over the past few quarters, construction has been down across the board. However, the magnitude of the depression may depend on the characteristics of the project.
High Demand in the Sunbelt, Phoenix Tops the List
The Northeast and Pacific Coast markets have always had some of the highest occupancy rates for medical office buildings being the more expensive, high barrier-to-entry cities. However, considerable growth in …
MOB Construction Continues to Drop in 2Q23
Recently we’ve been observing a downward trend, which has been reinforced by the current quarter. On a quarterly basis, 2Q23 only had around 2 million square feet start construction.
2023 Outpatient Development Report Recap
When looking at all outpatient projects, Hammes developed the most with a count of 12, for a total of 769,658 sf.