Feb
18

Columbia Medical Office Space Vacancy at 6.4%

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The medical office vacancy rate for the Columbia market was cut almost in half to 6.4% at the end of 2012 as the industry expanded to serve patients’ needs and respond to changes in the health care delivery systems, Colliers International reported today.

The Columbia commercial real estate firm added that year-end vacancy rate for 2011 was 11.9%.

New medical development has been taking place in suburban submarkets rather than in the downtown Central Business District where the vacancy rate dropped to 1.7% at year’s end, Colliers said.

The vacancy rate for suburban medical office space was 7.2% at the end of 2012, nearly five percentage points below 2011’s closing figure.

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