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San Antonio Medical Office MarketView Q3 2021

November 12, 2021

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  • While many property sectors continue to face implications from the pandemic, the medical office building (MOB) sector proved to be resilient, with five consecutive quarters of positive net absorption.
  • Market-wide vacancy dipped 50 basis points (bps), from 14.8% in Q3 2020 to 14.3% in Q3 2021.
  • MOB sales volume increased over 6.7% quarter-over-quarter. Cap rates also shrunk by 50 bps year-over-year, with an average cap rate of 6.1% in Q3 2021.
  • The construction pipeline remained tight, with only eight projects, totaling over 133,000 sq. ft. underway in Q3 2021.