New Survey Looks Exclusively at Development of Medical Office Buildings and Other Outpatient Facilities
A total of 35.7 million square feet of medical office buildings (MOBs) and other outpatient projects were started or completed last year, according to a newly released survey from Revista in collaboration with Healthcare Real Estate Insights.
In the first independently verified research project to look exclusively at outpatient medical real estate development, the survey reveals projects totaling nearly $7.7 billion in construction value and 19.4 million square feet were completed in 2016. Another 17.3 million square feet of outpatient projects with a value of almost $6.5 billion were started.
The Revista-HREI survey found that the top five developers of MOBs and other outpatient facilities in terms of square footage started or completed last year were:
- Pacific Medical Buildings (PMB) LLC
- NexCore Group LP
- Trammell Crow Company
- Duke Realty Corp. (NYSE: DRE)
- Concord Healthcare Development Inc.