MOB Construction Outlook
With the cost of construction materials continuing to rise, and interest rate hikes on the horizon, how will new MOB developments be affected?
Construction/Development
New Hospital Construction Picks Up
The construction pipeline of new and replacement hospital projects has been steadily increasing over the past two years. As of the second quarter, 45 million square feet of new hospital …
Strong Absorption in 1Q Pushes Occupancy Higher
2022 certainly kicked off at high speed with almost 3 times the space delivered being absorbed in the quarter. 4.3 million square feet of space was absorbed/newly occupied and 1.4
Chicago MOB Market Building into Growth
The Chicago Metro Medical Office Building (MOB) market has been rising on lower levels of completions and strong absorption all throughout the pandemic. Its occupancy rate is currently 92.4% (4Q21) …
MOB Sales Were Strong in 3Q; Sector Continues to Perform Well
During Revista’s recent 3Q webcast, Principal Mike Hargrave data showing that the volume in the third quarter was, preliminarily, $4.6 billion, the second highest quarterly total – behind the $4.9 billion of sales in Q2 2017 — since Revista began tracking such data in 2015.
Top Ten Markets for MOB Construction
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.
7 New Hospitals Open in 3Q21
Although hospital construction has certainly been affected by the pandemic, most of that impact has been on the expansion of existing hospitals, not the construction of brand new ones. As …
MOB Project Delays Temper Deliveries, Starts Steady
MOB project completions continue to slow in 2Q, down to 17 million square feet in annual deliveries. This is the lowest pace of deliveries in the last 6 years and represents a 32% decrease from the annual run rate of 25.1 million SF in deliveries in 1Q2020- just before the onset of COVID and all the related shutdowns, restrictions and labor shortages.
MOB Construction Starts Strong Despite Rising Costs
We\’ve all been hearing about the significant uptick in materials and labor costs associated with construction over the last number of months, particularly lumber which has been the focus of …
MOB construction completions fall to multi-year low
MOB Construction Completions fall to Multi-Year Low Medical Office (MOB) construction completions, which were near peak levels just one year ago have fallen to multi-year lows as of the 1st …
Revista Developer Survey shows strong development numbers; it also ranked the top third-party developers in 2020
While the amount of outpatient facilities started or completed during 2020 fell by about 9.7 percent from the previous year, the number of healthcare real estate projects taking place remains quite healthy
Secondary Markets Less Affected during Pandemic
The medical office building sector has held up remarkably well during the COVID-19 pandemic and continues to be an attractive asset class to investors for it’s resilience. Occupancy has remained …
Despite COVID-19 Pandemic, Healthcare Construction Numbers Remain Strong
Even though the professionals involved in MOBs correctly predicted that investor demand would remain strong for the product type during the COVID-19 pandemic, some involved in development expressed concern that construction numbers could fall as healthcare systems and providers would be forced to focus on a surge of patients instead of planning new projects.
Medical Office Sector Quarterly Data Brief
Revista has posted the 4Q20 MOB Sector Quarterly Brief. Available for a limited time this report provides an executive level overview of supply, demand and rent fundamentals for the aggregate …
Revista Updates Size and Scope of HCRE Sector
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 …
Kaiser Remains on top of Largest Property Owners
Once again, as has been the case for the last seven years, Oakland, Calif.-based Kaiser Permanente, the giant health insurance firm and healthcare services provider, remains the largest owner of real estate among healthcare-related entities in the United States.
Despite the Pandemic’s Effect, Healthcare Developers are Busy and Optimistic
Despite some delays and postponements of projects during the early months of the COVID-19 pandemic, a group of executives with some of the leading healthcare real estate (HRE) development firms are saying things are picking.
MOB Construction Pipeline Grows throughout 2020
Despite the challenges this year with COVID-19, medical office projects continue to break ground. Openings are not keeping pace, resulting in an in-progress pipeline that continue to grow. As of …