Medical office building investments on the decline in Q1

Investment in medical office buildings fell by 21% year over year in the first quarter of 2024, declining to $1.6 billion, according to a May 20 report from real estate investment firm CBRE. 

Though investments were on the decline, prices for medical property space continued to increase, up $1 per square foot from the fourth quarter of 2023. 

Rent for medical office space was also on the rise, up 0.5% quarter over quarter, and 1.3% year over year to $24.70 per square foot. 

Across the 59 medical office markets monitored by CBRE, there is currently 11.2 million square feet of medical office inventory under construction.

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