There is an estimated 110 million square feet of available medical office space either in existing buildings or those under construction as of the second quarter of this year. This supply is not nearly enough to meet demand through 2019, assuming healthcare practitioners want to locate in a medical office building. This is according to a new analysis by Transwestern, which does also offer a few caveats to this scenario.
One, medical practitioners could explore leasing space in conventional buildings or accelerate the trend of repurposing empty retail space for medical uses.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
