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Atlanta added 3.8 million square feet of medical office space in the last decade, marking the 3rd- largest percentage increase by square footage within the list.
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Overall, the New Jersey medical office market has the most space underway at almost 1 million square feet, while Los Angeles remains the largest market by current inventory.
Healthcare expenditure made up 16.6% of the United States’ GDP in 2023, totaling more than $4.5 trillion. This represents the largest share of GDP worldwide, even as U.S. healthcare volume is estimated to increase a further 10% by 2027. Consequently, it comes as no surprise that medical office buildings remain a niche, yet resilient commercial real estate asset even amid difficult capital conditions.
Looking to draw a bottom line when it comes to the medical office building market in yet another transformative year, CommercialSearch compiled current inventories and construction pipelines of medical office buildings larger than 25,000 square feet nationally. Then, using that data, we analyzed the state of the industry from the following perspectives:
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The top 10 MOB markets with the most medical office space under construction
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The 10-year growth of the top 10 largest MOB markets nationally
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The top 20 largest MOBs and healthcare facilities scheduled for completion this year
For the full report visit www.commercialsearch.com
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