We are pleased to announce that our Q1 2024 U.S. Medical Office forecasts are now available on the CBRE Econometric Advisors platform. This comes following the successful launch of our new Medical Office sector product at the end of 2023, a testament to our relentless commitment to provide our clients with the most valuable and up-to-date market insights.
- CBRE Econometric Advisors' national statistics on medical office buildings show a market operating in a steady state equilibrium. The national vacancy rate ticked up last quarter to 9.7% and is likely to remain in the mid-9% range throughout our forecast window, in line with the historical stability in the sector's vacancy rate.
- EA Asking Rents (NNN) are up 0.5% on the quarter and 1.4% year-over-year. This is in line with the historical average annual growth rate of 1.4% since 2015.This consistent growth is expected to continue as an aging population supports the sector going forward. It is worth noting there is a large quality range among existing medical office buildings, and we will likely see outperformance of better-located, higher-quality assets that can support the growing outpatient needs of large healthcare institutions.
For more information on becoming a CBRE Econometric Advisors subscriber and accessing our database, contact [email protected].
