BGL explains why in new report — and foresees rising sales volumes
By John B. Mugford
CUTLINE: BGL’s report indicates that 475 MOB transactions took place during the first half of 2025 with a total volume of $3.25 billion, which reflects a 19 percent decrease from the first half of 2024. (Photo courtesy of BGL)
Ever since the general office market started to hit hard times during the COVID-19 pandemic, many professionals involved in the medical outpatient building (MOB) space have proclaimed how fortunate they feel to be involved in a sector that typically remains stable during all economic cycles.
Of course, the MOB space has also faced its share of uncertainty. There was a COVID-driven, occupancy-reducing spike in telemedicine usage (which has passed) and an inflation-driven, deal-discouraging increase in interest rates (which hasn’t). Through it all, however, the property type remains resilient and has proven to be a strong investment for owners.
This notion is backed up by the recently published “Healthcare Real Estate Mid-Year Market Report” from Cleveland-based Brown Gibbons Lang & Company (BGL). BGL, a healthcare real estate (HRE) brokerage founded in 1989, notes it is an “advisor to private physician practice groups and institutional healthcare organizations” and that has “completed over $4 billion in real estate transactions.”
The BGL HRE team issuing the report comprises John C. Riddle, head of Healthcare & Life Sciences; Sean P. Maynard, managing director; and VPs Michael F. Janus and Michael J. McCarthy.
BGL states in its new report that, in the first half of 2025, the HRE sector
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