• Skip to main content
  • Skip to header right navigation
  • Skip to site footer
  • Blog
  • Free Resources
RevistaMed

RevistaMed

  • About
    • Meet Revista
    • Advisory Board
    • Partners
    • Press
    • Rising Leaders Council
    • Sponsorship
    • Contact Us
  • Events
  • Why Subscribe?
    • Featured Products
    • Business Development
    • Underwriting & Due Diligence
    • Asset Management
    • Capital Markets
    • Site Selection & Development
    • Leasing
  • Subscriber Login
Home / Construction/Development / MOB Project Delays Temper Deliveries, Starts Steady

MOB Project Delays Temper Deliveries, Starts Steady

August 19, 2021 by Hilda Martin Topics: Construction/Development, Industry News, Leasing/Property Management

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. Despite all of these headwinds, project starts have remained remarkably stable, suggesting the pandemic has largely been causing project delays after breaking ground. This certainly plays out in construction duration stats. Average time under construction for MOB projects that started between 2015-2019 was 455 days. Based on anticipated open dates for projects currently in progress, that average is 587 days. This will likely mean some time in the next year we will see a significant (and potentially prolonged) boost in deliveries as these projects finally open. Stay tuned to follow this and other developing trends!

Hilda Martin
Hilda Martin

Other Articles by Hilda Martin:

    • Physician Services PPI Not Following Inflation….yet
    • New Hospital Construction Picks Up
    • Strong Absorption in 1Q Pushes Occupancy Higher

Previous Post: « MOB Cap Rates Continue to Impress
Next Post: Cornerstone, KKR form a new joint venture partnership »

Sidebar

Topics

  • Construction/Development
  • Industry News
  • Leasing/Property Management
  • Mergers/Acquisitions
  • Policy/Legislation
  • Real Estate Financing/Capital Markets
  • Revista Best Practices
  • Revista News
  • Sponsor Spotlight
  • Transactions
  • Uncategorized

Recent Posts

  • The Impact of Interest Rates on Medical Real Estate
  • MOB Construction Outlook
  • Physician Services PPI Not Following Inflation….yet
  • Inflationary Pressures Impacting the Revista MOB Industry Fundamentals Report
  • MOB Transaction Volume Sets Quarterly and Annual Volume Records in 1Q22

Archives

Upcoming Events

Jul 19
1:00 PM - 2:00 PM EDT

Revista 2Q22 Subscriber Webcast

View Calendar

Other Free Resources

Industry Directory

Search for and/or list your medical real estate services in Revista’s medical real estate directory.

Reports & White Papers

Download free reports & white papers on medical real estate.

Add Lease/Sale Listing

Revista provides free lease/sale listings for healthcare real estate.

Ready to Schedule a Demo?

Get in Touch Now
  • Why Subscribe?
  • Events
  • The MOB Scene
  • Add A Directory Listing
  • Add Lease/Sale Listing
  • Contact Us
  • Sponsorship
  • About
  • Terms of Use
  • Press

SIGN UP FOR MOB SCENE NEWSLETTER