Healthcare: Med-office sector is bright spot in San Antonio market

by Tricia Lynn Silva for San Antonio Business Journal

Over the past several quarters, the medical office market has emerged as a top performer among San Antonio’s real estate sectors.

The objective now is to keep that momentum going, even as the pressures of the recession catch up to the market.

According to the fourth quarter 2009 analysis by NAI REOC San Antonio, the city’s multi tenant medical office building sector recorded an average vacancy rate of 18.5 percent — up from a rate of 16.1 percent as of fourth-quarter 2008.

While the medical office sector ended 2009 with net positive space absorption, the rate of that absorption has slowed. Over the 12 months of 2009, the market absorbed 46,661 square feet of space. By comparison, over the 12 months of 2008, the market absorbed 76,878 square feet of space.

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