Sep
09

Columbia’s Medical Office Space Vacancy Drops To 11.4%

By
– SCbizmag.com

The Columbia-area medical office market experienced a moderate increase in occupancy rate during the first half of 2010, with a midyear vacancy rate of 11.38%. This can be attributed to a trend of hospitals acquiring private medical practices across the region, according to Colliers International.

On-campus medical office buildings saw 48,242 square feet of positive absorption during the six-month period ended June 30. Off-campus multi- and single-tenant properties experienced a combined negative absorption of 17,073 square feet during the same period, which resulted in a net positive absorption of 18,388 for the first two quarters of 2010.

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