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January 2015
Article written by Spencer Hogan, Newmark Knight Frank Global Healthcare Services - Investor demand for medical office buildings accelerated significantly in 2014. The year closed with over $9 billion in total medical office building sales located in the US, a 21% YOY increase (RCA). According to RCA, the average capitalization rate by quarter for the year declined 30 basis points YOY to 7.24% from 7.54% and the average price per square foot increased $12 YOY to $223 from $211.
Newmark Knight Frank (NKF) Global Healthcare Services has negotiated the sale of the Columbus Regional Healthcare System (CRHS) medical portfolio, which comprises 12 medical office buildings located in Columbus, Ga., and one medical office property in Phoenix City, Ala.
When it comes to capital improvement projects, healthcare providers across the board are looking to reduce costs and shorten construction schedules while still seeking high-quality design and building materials. While this may seem like a lofty aspiration, modular building systems are stepping in to make it a reality.
Medical office buildings take up nearly 335 million square feet of space in the 10 largest metropolitan areas for medical real estate inventory, according to new data published by Revista. But the distribution of space across all 10 is anything but equal.
