Medical Space Houston

A major consideration when it comes to medical space in Houston is whether to rent or to purchase. While renting is less costly in the short term, purchasing a building is likely to result in a greater savings in the long term. This long term savings is especially recognized when there are extensive capital improvements that need to be made to the building, which is often the case when you are talking about medical space.
When we talk about medical space in Houston, 2009 research reports say:
• There is currently 5.9 Million SF of Class A medical space, 12.0 Million SF of Class B medical space and 5.3 Million SF of Class C medical space
• Absorption, New Supply & Vacancy: Positive net absorption reached 275,070 SF in the first half of 2009, far surpassing the small gain of 1,506 SF at this time last year. Healthy demand for medical office space pushed vacancy down 90 basis points to 13.8% in the second quarter of 2009.

• Overall, vacancy for medical office space in Houston dropped to 13.8% from 14.7% one year ago, but those gains were not enough to affect the overall average quoted rental rate keeping it relatively unchanged at $22.74 per SF on a full service basis from this time last year.

Similarly, medical office space vacancy throughout Texas has ticked up 20 basis points over the past 12 months to 13.5%. As such, rents are forecasted to rise 0.8% in 2010 to $22.92 per SF on a full service basis. Comparatively, despite recently completed new construction, vacancy in Dallas/Fort Worth is down 20 basis points year over year at 14.2%, in line with DFW’s historical average.
When it comes to medical office space in Houston Corporate Realty Advisors (CRA) is the best choice for helping clients to determine whether buying or leasing medical office space is the right choice for each client. CRA’s experience and expertise related to real estate matters provides the client with information and assistance to make cost-effective long-term medical space decisions. In addition to helping clients negotiate the best possible terms when it comes to the financial aspect of each purchase or lease, CRA can assist with the specialized help you need in the design and construction of any interior architectural medical space with aspects such as:
• Maximizing efficiencies related to floor plans/design for all medical specialties
• Estimate interior improvement costs for budgeting
• Assist in the review the construction drawings
In addition to the services CRA can assist with above, CRA also provides services like consulting, strategic planning, market research, lease administration, real estate auditing, financial analysis, tax incentive negotiation, and lease review.