Rent also increased 3.3 percent in the first quarter of 2023 from the previous quarter. Seven medical office buildings are currently under construction in the market, with 75 percent of the space pre-leased, according to the report.
Activity in the market typically ramps up even more in the fourth quarter of the year, according to the Business Journal.
The area’s two largest medical construction projects are set to cost over $100 million combined, taking up over 177,000 square feet.
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