{"id":1004722001,"date":"2024-07-22T06:36:44","date_gmt":"2024-07-22T14:36:44","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004722001"},"modified":"2024-08-07T01:25:43","modified_gmt":"2024-08-07T09:25:43","slug":"mob-tenants-pay-a-premium-for-these-markets","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mob-tenants-pay-a-premium-for-these-markets\/","title":{"rendered":"MOB Tenants Pay a Premium for These Markets"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Muss_Jason-e1549057994343.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"510\" data-attachment-id=\"1004295971\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/muss-development-appoints-jason-muss-as-president\/muss_jason\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Muss_Jason-e1549057994343.jpg\" data-orig-size=\"680,510\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;11&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;Canon EOS 5D Mark II&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1297177467&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;105&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.008&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Muss_Jason\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Jason Muss&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Muss_Jason-e1549057994343.jpg?w=680\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Muss_Jason-e1549057994343.jpg?w=680\" alt=\"Jason Muss of Muss Development\" class=\"wp-image-1004295971\" style=\"width:414px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Muss_Jason-e1549057994343.jpg 680w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Muss_Jason-e1549057994343.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><figcaption class=\"wp-element-caption\">Medical office tenants seek densely-populated markets, said Jason Muss, president of Muss Development.<\/figcaption><\/figure><\/div>\n\n\n<p>Across the nation, demand for medical office buildings is persistent. As the population ages and the youngest of the Baby Boomers enter their 60s, the need for in-person health care is increasingly critical. But some markets in the U.S. are experiencing more demand than others, and as a result, some <a href=\"https:\/\/www.commercialsearch.com\/news\/medical-office-to-perform-well-in-2024-report\/\">MOB spaces<\/a> are commanding top dollar. In these areas, MOB brokerage business is unlikely to waver.<\/p>\n\n\n\n\n\n\n\n<p>\u201cI think there are a lot of markets across the U.S. with very attractive <a href=\"https:\/\/www.commercialsearch.com\/news\/medical-office-to-perform-well-in-2024-report\/\">MOB opportunities<\/a> but, like all real estate investments, the \u2018hotness\u2019 of the market is in the eye of the beholder,\u201d Nathan&nbsp;Riley,&nbsp;principal, asset management at BGO, told <em>Commercial Property Executive. <\/em>\u201cThat said, I think an important determination to whether a market has the potential to be attractive is to look at the demographic trends through the lens of a medical professional.\u201d<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/top-commercial-real-estate-brokerage-firms\/\">2024 Top CRE Brokerage Firms<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>And through the lens of someone in the medical field, access to patients and an increasing patient base is the key. This makes markets like those across the Sunbelt states particularly attractive as well as cities where <a href=\"https:\/\/www.commercialsearch.com\/news\/looking-into-the-future-behind-miamis-mirai-project\/\">people like to age in place\u2014like Miami<\/a>.<\/p>\n\n\n\n<p>Southern states at large are presenting opportunity as well. \u201cMany MOBs are looking to open locations in southern&nbsp;states so that they can serve snowbird patients both in their northern home bases and when they&#8217;re at their snowbird vacation homes down south,\u201d said Eric Hoffman, vice president and national health-care sector lead at Project Management Advisors.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-medical-tenants-need-people\">Medical tenants need people<\/h2>\n\n\n\n<p>Places with access to a tremendous pool of people, like Manhattan, have a large concentration of MOBs, too. With ready access via trains, cars and subways, certain parts of the city have a dearth of medical space available to a list of waiting potential tenants, said Jason Muss, president of Muss Development.<\/p>\n\n\n\n<p>\u201cThen there are specialized areas like Boston, Miami and Los Angeles that present tremendous medical benefits,\u201d Muss continued. <\/p>\n\n\n\n<p>Locating in a big urban core as a top doctor provides an access advantage as well as a centrality benefit, pushing rental rates up. Many medical uses\u2014surgery centers, hospitals, cancer treatment facilities, etc.\u2014seek out urban centers before the suburbs. For these types of tenants, brokers must study the surrounding population first to then understand the real estate need. &nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Which locations are attracting the lion&#8217;s share of demand? <\/p>\n","protected":false},"author":3006,"featured_media":1004295971,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21754,1492,1600,32781],"tags":[52263,43955,51529],"class_list":["post-1004722001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-medical-office","category-miami","category-new-york","category-southeast","tag-bgo","tag-muss-development","tag-project-management-advisors"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MOB Tenants Pay a Premium for These Markets - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/mob-tenants-pay-a-premium-for-these-markets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MOB Tenants Pay a Premium for These Markets\" \/>\n<meta property=\"og:description\" content=\"Which locations are attracting the lion&#039;s share of demand?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/mob-tenants-pay-a-premium-for-these-markets\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-22T14:36:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-07T09:25:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Muss_Jason-e1549057994343.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"680\" \/>\n\t<meta property=\"og:image:height\" content=\"510\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jordana Rothberg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/mob-tenants-pay-a-premium-for-these-markets\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/mob-tenants-pay-a-premium-for-these-markets\/\",\"name\":\"MOB Tenants Pay a Premium for These Markets - 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