NAI: Houston medical office vacancy at 16.2 percent

HOUSTON – Overall vacancy for local medical office space is at 16.2 percent, down 20 basis points from last year’s 16.4 percent, according to the latest market report from NAI Partners​.

​Five months into 2022, medical office space recorded about 466,000 sf of leasing activity (both new leases and renewals). Net absorption (move-ins minus move-outs) registered positive 153,000 sf, a year-over-year improvement from negative 125,000 sf. 

So far this year, 1.2 million sf of medical office developments are under construction, while 208,000 sf have been delivered.