May 19, 2017
REOC San Antonio medical office tenant shift
SAN ANTONIO – San Antonio’s medical office market experienced a slight uptick in occupancy in first quarter 2017 from the same three-month period a year ago. But how long that trend continues...
SAN ANTONIO – San Antonio’s medical office market experienced a slight uptick in occupancy in first quarter 2017 from the same three-month period a year ago.
But how long that trend continues may depend on the level of additional migration among medical tenants to nontraditional spaces.
A new report compiled by REOC San Antonio shows that just over 1.4 million of the 7.2 million sf of medical space available for lease in the San Antonio market was unoccupied during 1Q 2017.
That 20 percent vacancy rate is lower than the 20.3 percent figure from a year ago. But the task of filling such lease space could grow increasingly complex as medical tenants explore options.
“Health care providers, who aggressively compete for patients, have become much more aware of the benefits of establishing a location with high visibility and easy accessibility,” says Kim Gatley, senior vice president and director of research for REOC San Antonio.
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