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Feature Story: The MOB market did well during Q1

But the numbers could tell a different story down the road, Revista says

By John B. Mugford

At least through the first quarter (Q1) of this year, the effects of the COVID-19 pandemic had not drastically impacted the performance of the medical office building (MOB) sector.

In fact, quite the contrary, as MOB sales remained strong during Q1; construction remained on a solid path after a record-setting year for new project starts in 2019; occupancies held steady, especially in the country’s top 50 markets; and the absorption of medical office space in the top 50 largest markets was as strong as ever.

This information, as well as plenty of other data, came by way of an April 20 webcast hosted by healthcare real estate (HRE) research firm Revista, based in Arnold, Md. Revista principals Mike Hargrave and Hilda Martin provided the latest data concerning the MOB sector as part of the quarterly subscriber webcast.

Of course, while most MOB market fundamentals held up rather well for Q1 as a whole, the COVID-19 crisis didn’t really take hold until about mid-March. So, as Mr. Hargrave and Ms. Martin noted, the numbers could tell a different story down the road, as the data begins to reflect more of the economic impact of the pandemic.

One indication of that is

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