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Houston's robust medical office trends 2Q 2015Houston's robust medical office trends 2Q 2015https://www.recenter.tamu.edu/news/newstalk-texas/?Item=1742015-08-11T11:43:00Z2015-08-11T10:00:00Z

HOUSTON - While low oil prices have negatively affected jobs and growth in Houston’s oil industry in the first half of 2015, the health care industry has continued to flourish, according to Colliers’ 2Q 2015 Houston Medical Office and Healthcare Real Estate Trends report by Coy Davidson.

Houston Medical Summary Statistics 2Q 2015
  2Q 2014 1Q 2015 2Q 2015
Vacancy rate 10.9% 12.1% 11.7%
Net absorp.* 265.0 -235.5 306.7
New construction* 0 0 216.1
Under construction* 649.7 236.1 794.2
Asking Rents
($/SF/YR)
 
Average $23.58 $24.54 $24.43
Class A $27.70 $27.85 $26.84
Class B $23.42 $24.60 $24.49


*thousand sf

Medical Office Sales 1Q 2015–2Q 2015
Building Name Submarket RBA (SF) Sales
Price
Price
PSF
Closed
Bayside Medical Center Gulf Freeway/Pasadena 51,136 $6.5M $127 June-2015
22710-22730 Professional Dr. Kingwood/Humble 43,000 $14.9M $348 March-2015
Spring Medical Plaza Northwest Outlier 22,345 $7.0M $316 Jan-2015
Friendswood Medical Center NASA/Clear Lake 14,000 $5.6M $245 Feb-2015
Northwest Surgery Center Northwest 11,200 $4.6M $411 May-2015


Source: Colliers

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Company News Release
Houston-The Woodlands-Sugar Land
Medical
http://www.coydavidson.com/colliers-international/q2-2015-houston-medical-office-and-healthcare-real-estate-trends/Read more at {Source}

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