HOUSTON – Local medical office vacancy rose 0.4 percent since July 2021 to 16.7 percent last month, according to NAI Partners.
The market recorded 588,000 sf of leasing activity year to date in July 2022. Overall net absorption totaled 80,000 sf.
So far this year, 1.1 million sf is under construction, and 235,000 sf has been delivered.
The average asking full-service rent is at $26.22 per sf, up from $25.62 this time last year.
Get more Houston-area medical news on the Texas Real Estate Research Center’s website:
Source: NAI Partners