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REOC: San Antonio 3Q 2014 medical office marketREOC: San Antonio 3Q 2014 medical office markethttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=23132014-12-03T08:17:00Z2014-12-03T08:45:00Z

SAN ANTONIO - The performance of local medical office properties continues to be impacted more by the conversion of non-traditional properties to medical use, migration to user-owned facilities and cost-saving consolidations rather than a renewed scrutiny of health care reform.

These trends tend to temper leasing activity that was previously concentrated within medical-only office buildings. As a result, separately-tracked medical-only office buildings experienced a relatively flat performance in third quarter.

Despite the 3Q 2014 gain, the addition of new supply moved the citywide vacancy up to 18.4 percent compared to 17.5 percent in 2Q 2014.

REOC San Antonio: 3Q 2014 Medical Office Building*
All Types Citywide CBD Non-CBD
3Q 2014 3Q 2013 3Q 2014 3Q 2013 3Q 2014 3Q 2013
Inventory 6,752,278 6,559,753 1,064,453 1,012,037 5,687,825 5,547,716
Direct Vacant 1,241,937 1,215,418 132,027 86,750 1,109,910 1,127,648
Vacant 18.4% 18.5% 12.4% 8.6% 19.5% 20.3%
Average rent $23.79 $23.80 $20.49 $20.71 $24.40 $24.39
3Q absorption 8,078 4,398 -28,980 0 37,058 4,398
YTD absorption 154,248 205,797 -29,880 35,591 184,128 170,206

*Statistics based on all multi-tenant industrial facilities 20,000 sf and larger excluding single-tenant, owner-occupied and government buildings.

For more stats, see Medical under San Antonio Market Data Sources.

REOC San Antonio
San Antonio-New Braunfels
Medical
http://reocsanantonio.com/qr.htmRead more at {Source}

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