Los Angeles has the largest medical office building market in the U.S. by square footage, with more than 1,000 properties totaling nearly 41 million square feet, according to a report from 42floors.com.
To create the report, 42floors.com gathered data from corporate real estate research and listing platform CommercialEdge to analyze the last decade of medical office building construction activity between 2012 and 2021. The report examined 25 major commercial real estate markets, analyzing how deliveries and sales volumes in these markets progressed over the last 10 years. Read more about the methodology here.
The top 25 markets by medical office buildings' square footage, according to 42floors.com:
1. Los Angeles: 40,940,000
2. Houston: 33,220,000
3. Dallas: 33,080,000
4. Chicago: 28,830,000
5. Washington, D.C.: 24,320,000
6. Atlanta: 24,000,000
7. Philadelphia: 23,240,000
8. Phoenix: 21,440,000
9. Denver: 19,650,000
10. Seattle: 18,670,000
11. San Francisco Bay Area: 17,820,000
12. New Jersey: 17,410,000
13. Detroit: 17,270,000
14. Boston: 16,790,000
15. Minneapolis-St. Paul (Minn.): 15,780,000
16. Orange County (Calif.): 13,470,000
17. San Diego: 12,650,000
18. Cleveland-Akron (Ohio): 11,860,000
19. Baltimore: 11,850,000
20. Miami: 11,840,000
21. Tampa (Fla.): 11,550,000
22. Indianapolis: 11,490,000
23. Richmond-Tidewater (Va.): 11,280,000
24. San Francisco: 11,130,000
25. Bridgeport-New Haven (Conn.): 11,100,000