Houston medical office absorption up 48K sf last month

​HOUSTON – Overall vacancy for local medical office space was at 17 percent and availability was at 18.5 percent in February, both down from the previous month. 

According to NAI Partners, leasing activity was 230,000 sf in February 2020. Net absorption (move-ins minus move-outs) was at 157,000 sf, up from 109,000 sf in January 2020. 

There was 251,000 sf of medical space under construction, and one project delivered 65,000 sf. 

The average asking full-service rent was $27.25 per sf, while Class A medical office space averaged $32.93 per sf.

The Real Estate Center has more Houston-area medical news​ on our website for free. 

​​Source: NAI Partners