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SoCal Sees Effects of Healthcare Consolidation

The last major market to be consolidated, Southern California medial office rents are soaring and vacancy is at an all-time low of 7%.

By Kelsi Maree Borland | kelsimareeborland | Updated on September 05, 2017

Medical office is becoming the new hot market in Southern California. According to new research from CBRE, Los Angeles, Orange County and San Diego medical office rents are up 9% since 2010 and vacancy rates are at a record low of 7%. Bryan Lewitt, SVP and the Southern California practice leaser for the healthcare services group at CBRE, says that the Southern California market is the last major market to experience healthcare consolidation, and it is driving increased demand and higher rental rates. To find out more, we sat down with Lewitt for an exclusive interview.

GlobeSt.com: What is driving this tremendous demand for medical office space?

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