HOUSTON – Local medical office vacancy rose 0.3 percent since November 2020 to 16.9 percent last month, according to NAI Partners.
The market recorded 1.3 million sf of leasing activity year to date in November 2021. Overall net absorption totaled 73,000 sf.
So far this year, just over one million sf is under construction, and 209,000 sf has been delivered.
The average asking full-service rent is at $25.69 per sf, down slightly from last year at this time. Class A medical office space averages $30.30 per sf, down 2.7 percent.
Get more Houston-area medical news on the Texas Real Estate Research Center’s website:
Source: NAI Partners