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| Anne Spencer |
ORLANDO, FLORIDA –
Cushman & Wakefield released its
2015 Central Florida Medical Office Report. This comprehensive analysis is
published annually by Director Anne
Spencer and Cushman & Wakefield’s Healthcare Practice Group.
The report examines on-campus and off-campus medical office
inventory in numerous “hospital clusters” located throughout Orange, Seminole,
Osceola, and Lake Counties. It is the only report of its kind in the Central
Florida region.
The key take-aways from the second edition of this report
are as follows:
The fundamentals of the leasing environment in Central
Florida continue to evolve.
Direct medical office vacancy in the Orlando MSA
has fallen 5.2 percentage points in the past five years and medical office
rental rates have simultaneously dropped 5.5 percentage points.
Year-over-year
leasing activity, measured in square feet, decreased substantially after an
extended period of positive growth.
Medical office building sales remain limited. In Central
Florida, most owners are long-term holders. Those medical office properties
which do come to market usually sell at a premium when compared to pure office
plays.
The pace of on-campus hospital construction has finally
picked up after five years of limited deliveries. Several hundred thousand
square feet of new space should be delivered over the next three years.
The Affordable Care Act has introduced some uncertainty into
the decision-making process of real estate principals.
This is one of the
reasons why there have not been more positive developments in the medical
office market.
For a complete copy
of the company’s news release, please contact:
Anne Spencer
Director
(407) 541-4434
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