2022 | First-Half Houston Healthcare Market Report

HOUSTON - Aug. 31, 2022 - PRLog -- Key Takeaways

• Vacancy decreased annually and quarterly
• Mid-year absorption is positive
• Construction and deliveries are up year over year
• Rental rates rose quarterly and annually

Houston Highlights

Houston's medical office building (MOB) market posted 531,293 square feet of positive net absorption in the first half of 2022, an increase over the 219,659 square feet recorded in the second half of 2021. The vacancy rate fell over the year from 13% to 12.1%. Houston's MOB inventory increased slightly with 514,775 square feet of new inventory added in the first half of 2022 and there is 2.3 million SF of MOB space under construction. The average asking NNN rental rate rose annually from $22.80 per SF to $23.23 per SF. Transaction volume decreased on an annual basis and increased on a semi-annual basis. According to our data provider Revista, 2022 mid-year transaction volume is just over $298.7 million and the average CAP rate is 6.17%.

Historic Comparison- MOB only

The statistical historic comparison table reflects medical office buildings (MOB) only. Read the full story here: https://www.colliers.com/en/research/houston/2022-houston...