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REOC: San Antonio 1Q 2015 MOB needs booster shotREOC: San Antonio 1Q 2015 MOB needs booster shothttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=8232015-06-05T09:48:00Z2015-06-05T09:25:00Z

SAN ANTONIO - Following a rather flat fourth quarter close to 2014, the San Antonio medical office market experienced a slow first quarter 2015.

Medical office buildings experienced 20,548 sf of negative net absorption in the first three months of the year, according to the survey of nearly 6.9 million sf of medical-only office lease space.

Absorption is normally the best indication of demand for space, but the sluggish first quarter performance is not an accurate indication of demand because leasing activity continues to spill over into other property types.

Despite the uptick in vacancy, the cost of renting medical office space climbed $0.05 from last quarter to reach a citywide average of $24.01 per sf per year on a full-service basis.

REOC San Antonio: 1Q 2015 Medical Office Building*
All Types Citywide CBD Non-CBD
1Q 2014 1Q 2015 1Q 2014 1Q 2015 1Q 2014 1Q 2015
Inventory 6,645,162 6,869,206 1,059,337 1,059,393 5,585,825 5,809,813
Available 1,218,937 1,336,469 100,693 161,455 1,118,244 1,175,014
Vacant 18.3% 19.5% 9.5% 15.2% 20.0% 20.2%
Average rent $23.83 $24.01 $20.78 $20.23 $24.40 $24.70
1Q absorption 73,794 -20,548 0 -6,640 73,794 -13,908
YTD absorption 73,794 -20,548 0 -6,640 73,794 -13,908


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

Source: REOC San Antonio

See the full Quarterly Medical Reports 1Q 2015, including previous quarters.

Don't forget! Visit San Antonio-New Braunfels Market Research for more stats.

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

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