Medical Office on Hold at Mid-Year
- Vacancy increased to 10.4 percent in the second quarter of 2020
- Net absorption showed a marked decrease from last quarter
- The average asking rental rate increased to $2.33 psf FSG
The second quarter of 2020 did not keep up the pace set by the first quarter. Vacancy increased to 10.4 as net absorption fell to only 12,308 square feet. Completions increased to 22,400 square feet this quarter. Asking rental rates increased to $2.33 per square foot (psf) on a full service gross (FSG) basis this quarter.
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