Resilient Demand Persists for Medical Space Amid Challenges in the Office Sector

According to an article posted in the Hartford Business Journal, Connecticut’s medical office market is experiencing a notable upswing with increased investments, highlighted by a $300 million initiative targeting outpatient medical buildings in the region. Local acquisitions, including a 53,120-square-foot medical office building in Hamden and a $8.15 million purchase in Torrington, showcase a growing interest in the state’s medical office spaces. Despite challenges such as high interest rates and healthcare industry issues, Connecticut demonstrates robust demand, maintaining a 20% growth in medical office space over the past decade, coupled with a steady 94% occupancy rate and a shift towards higher rents due to limited new constructions.

To read the full article, follow this link: Despite office sector’s woes, demand for medical space remains robust