2018 Saw Rise in Total Values, Square Footage of Medical Office Building Construction
Last year continued a growth cycle for medical office building (MOB) construction projects as well as total values for medical office building development projects, according to the latest Revista Outpatient Healthcare Real Estate (HRE) Development Report.
Although the survey shows a small decrease in the number of new MOBs completed in 2018 (down to 464, from 486 in 2016, and 469 in 2017), the total square footage for MOB space increased 17% for a total of 24.3 million square feet last year. The total value of these building projects increased 27% from 2017 to $11 billion in 2018.
The top 10 developers in 2018 developers of medical office space in the “Projects Started or Completed” category, ranked by square footage, according to the report are as follows:
1. Anchor Health Properties with eleven started or completed projects totaling 437,448 square feet;
2. Pacifice Medical Buildings (PMB) with four projects totaling 405,429 square feet;
3. Rendina Healthcare Real Estate with four projects totaling 330,769 square feet;
4. NexCore LP with seven projects totaling 311,460 square feet;
5. Trammell Crow Company with two projects totaling 256,810 square feet;
6. Ryan Companies with seven projects totaling 240,137 square feet;
7. Loudermilk Construction with two projects totaling 200,757 square feet;
8. Ellicott Development with one project totaling 194,000 square feet;
9. Carnegie Management & Development with two projects totaling 192,495 square feet;
10. Meadows & Ohly with two projects totaling 177, 884 square feet.
Source: Revistamed.com
