Despite economic concerns and industry challenges, the medical office property sector (MOB) continues to go from strength to strength, setting record highs for asking rents, sales volume, and pricing over the past four quarters. Demand is outpacing supply, vacancy remains tight, and capitalization (cap) rates have remained relatively stable. As a result, development activity is gaining momentum, reflecting confidence in the sector.
This performance is particularly impressive given the continued cost containment pressures faced by the healthcare industry. In this report, we examine current MOB fundamentals and recent sector performance, followed by an outlook to the sector’s future.
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