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2023 H2 Healthcare Houston Report Colliers
2023 H2 Healthcare Houston Report Colliers
2023 H2 Healthcare Houston Report Colliers
Houston
23H1
23H2
• Houston ranks No. 1 in total SF for both construction and net
Houston
absorption among the top 50 MOB markets nationally
• Vacancy drops
• Positive absorption 12th straight quarter
• Construction down YoY, but deliveries nearly double
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22H2 23H1 23H2 ͲϭϬϬ͕ϬϬϬ
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Total Inventory ͲϮϬϬ͕ϬϬϬ
43,285.3 44,077.6 44,714.9 ϲ͘Ϭй
(in Thousands of SF) ͲϯϬϬ͕ϬϬϬ
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Yϭ YϮ Yϯ Yϰ Yϭ YϮ Yϯ Yϰ Yϭ YϮ Yϯ Yϰ Yϭ YϮ Yϯ Yϰ Yϭ YϮ Yϯ Yϰ Yϭ YϮ Yϯ Yϰ
New Supply
407.7 792.3 637.3 ϮϬϭϴ ϮϬϭϵ ϮϬϮϬ ϮϬϮϭ ϮϬϮϮ ϮϬϮϯ
(in Thousands of SF)
ďƐŽƌƉƚŝŽŶ EĞǁ^ƵƉƉůLJ dŽƚĂůsĂĐĂŶĐLJ
Absorption New Supply Total Vacancy
Net Absorption
214.3 787.1 900.6
(in Thousands of SF)
Under Vacancy rates for MOB buildings have dropped below 11.0% for
Construction 3,076.6 2,474.9 2,050.8 the first time in five years, decreasing by 100 basis points year-
(in Thousands of SF) over-year to 10.9%.
Overall Asking Net absorption of 1.7 million square feet outpaced the total 1.4
$23.73 $23.62 $23.52
Lease Rates (NNN) million square feet of new deliveries during 2023.
Source: Revista Source: Revista
Recent Transactions
23H2
Under Construction
100,000 SF or Greater