Minneapolis-St. Paul (Minn.) is the fastest growing medical office building market, seeing 24 percent growth over 10 years, 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 10-year growth of the top 25 medical office building markets, according to 42floors.com:
1. Minneapolis-St. Paul (Minn.): 24 percent
2. Richmond-Tidewater (Va.): 22 percent
3. Philadelphia: 21 percent
4. Tampa (Fla.): 18 percent
5. Chicago: 18 percent
6. Dallas: 16 percent
7. San Francisco: 16 percent
8. Houston: 15 percent
9. Denver: 14 percent
10. Indianapolis: 14 percent
11. Atlanta: 14 percent
12. Bridgeport-New Haven (Conn.): 13 percent
13. San Francisco Bay Area: 12 percent
14. Baltimore: 11 percent
15. Seattle: 10 percent
16. Miami: 10 percent
17. Washington, D.C.: 10 percent
18. Phoenix: 9 percent
19. Los Angeles: 9 percent
20. Boston: 9 percent
21. San Diego: 8 percent
22. New Jersey: 7 percent
23. Orange County (Calif.): 7 percent
24. Cleveland-Akron (Ohio): 5 percent
25. Detroit: 5 percent