San Antonio Medical Office MarketView Q3 2021
November 12, 2021
- 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.