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CBRE: 42 Percent Job Growth Creates Demand for Medical Office Space in Houston

HOUSTON – More than 600,000 SF of medical office space will be completed and delivered in the Houston area over the next year, as developers respond to growing medical employment growth, according to CBRE.

CBRE Research in Houston has initiated analysis of Medical Office Buildings.

Healthcare employment in the Houston area has grown by 42 percent over the last decade, but construction of medical office space has not kept pace with the job growth recently, CBRE reports. This indicates “a need for new development.”

The Woodlands/Conroe area and the Texas Medical Center lead the city with a 5.5 percent Class A vacancy rate in medical office buildings, CBRE reported.

August 29, 2016 Realty News Report Copyright 2016

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