The latest market data in the Q3 reports of 2022 anticipates, as many other real estate, financial and economic outlooks predict, a possible national recession in the forthcoming months. Some short-term setbacks are expected in Arizona, hence focusing on a positive outlook in the long term. While healthcare real estate is navigating a post-pandemic economy, the fundamentals for the demand of medical office buildings demonstrate that lease rates and sales volume will weather the pending recession storm.
Recent updates in the sales and leasing activities depict a positive YOY growth. Looking at the numbers, removing the sector’s merger of two giant healthcare REITS, the price per square foot was the highest from the previous two years.
Some places with a low vacancy rate observed a notable increase in the average asking rent. Shortage of land opportunities and low vacancies particularly challenged developing areas resulting in supply constraints.
With the guidance and experience of extensive healthcare market knowledge and a data-driven approach, DOCPROPERTIES aids their clients through severe market conditions by aligning their efforts toward positive cash flows and profitability goals.