The Medical Outpatient Building or Medical Office Building sector (both MOB) is at a cyclical high in 3Q25. At 92.7% across the nation’s largest 100 metro areas, the MOB occupancy rate is up 10 basis points (bps) Q/Q and 20 bps Y/Y. The MOB occupancy rate has been slowly rising but generally hovering between 92.4% and 92.7% for the past 2 years. It appears that it is bouncing around an imaginary ceiling of occupancy. Many of the markets Revista tracks are very tight with 20 of the top 100 metros boasting occupancy of over 95% as of 3Q25. Baton Rouge was the highest occupied market at 97% occupancy. Daytona beach rose the most Y/Y, its occupancy rate rose 210 bps from 94.1% in 3Q24 to 96.2% in 3Q25. The Provo-Orem CBSA fell the most Y/Y. Its occupancy rate fell 280 bps from 96.4% in 3Q24 to 93.6% in 3Q25.
Subscribers can access the Revista rankings and Trends for these stats. Its located here https://data.revistamed.com/Pages/MetroRankings. For more information or for subscription information please reach out to Mike Hargrave at mike@revistacompanies.com or schedule a demo at https://revistamed.com/schedule-a-demo/. .
