Late March through April saw the onset of the Covid-19 Pandemic which shutdown much of the US economy. The Physician Office and Medical Office Sectors, which had historically proved ultra-resilient to economic and other shocks was not immune to the pandemic related shutdowns.
Phoenix is an investor favorite for sure. While nationwide roughly 65% of medical office space is user owned, in Phoenix only 30% is user owned. A significant driver of this is how incredibly fast Phoenix is growing.
Please take our survey on the ongoing impact on leasing and property management from the Covid-19 pandemic. Please make all responses as relevant to your medical office buildings only. All submissions are..
Many economic signals rebounded in May of 2020. The equities markets, housing markets and overall employment markets all showed sharp pullbacks in March and April only to rebound sharply in May. Among the measures is Ambulatory Services employment.
Based on planned projects, a slow down in starts in the beginning of this year was expected. But for those scheduled starts, even into March and April, projects moved forward with few exceptions. Projects scheduled to open, however, have a different story.
verall, the report shows little impact from the Covid-19 pandemic. The chart below shows key aggregate same-store year over year growth rates for key MOB metrics.
Despite mounting stay-at-home orders and market turbulence throughout the month of March, medical office building sales ended the quarter up from a year ago. Want access to data as it happens? Subscribe to Revista to search building sales as soon as Revista Research enters them in our Transaction Comps tool.
Revista has developed 2 short surveys in response to the Covid-19 pandemic’s impact on your business. One survey is geared towards owners and managers of medical real estate and the other is geared towards investors and those involved in the investing in medical real estate.
With the onset of the Covid-19 pandemic this will be an important metric to track in 2020 and beyond. Take comfort in the fact that over previous cycles/downturns the rate held up remarkably well, especially when compared to other asset classes.