Current Medical Office Market Conditions H2 2021
Medical Tenants’ appetite for rental space remains robust. Medical Office is a very active market sector as physician groups merge and consolidate with a need for newer, high tech space. While the pandemic did have an initial negative impact on the leasing rates in the medical retail sector, it is picking up where it left off. Retail centers are emerging as a competitor to Medical Office buildings. Vacant retail space presents a growing opportunity for Medical Office users to locate in a town center or strip mall with plentiful parking and easy access for patients. The amenities found in strip malls and town centers combined with nearby community amenities are seen as a way to increase market exposure and accessibility. Retail offers a strong convenience factor for Medical Tenants and their patients.
