戴德梁行+2022年TRIAD医疗办公室市场报告-16页-WN7.pdf

TRIAD MEDICAL OFFICE YEAR-END MARKETREPORT20222|TRIAD MEDICAL OFFICE|2022 YEAR-END MARKET REPORTTABLE OF CONTENTSOVERVIEWMedical Office Overview&Employment Stats .4Triad Medical Office Market Clusters .6SUBMARKETSForsyth .7Guilford .8Alamance .9CONSTRUCTIONConstruction Activity-2022 Deliveries .10Construction Activity-Pipeline .11LEASES2022 Lease Transactions MOB Highlights .122022 Investment Sales MOB Highlights .13OUR TEAMC&W Healthcare Advisory Team Overview .14CUSHMAN&WAKEFIELD|3MEDICAL OFFICE OVERVIEW&TRIAD HEALTHCARE NEWSGreensboro/Winston-Salem weathered shifting economic tides and inflationary pressures through the end of 2022.The unemployment rate increased by 50 basis points(bps)to 4.1%during the fourth quarter;however,more than 16,400 jobs in total were added over the course of the year.Ambulatory Health Care Service jobs including offices of physicians,dentists,and medical and diagnostic laboratories continued to increase,climbing 3.5%throughout 2022 to nearly 33,700 jobs.Employment growth in these fields is expected to persist with an estimated 6.8%employment growth by the end of 2025.Available space options in the market receded with the overall vacancy rate decreasing by 60 bps in 2022 to 4.9%,sinking below the five-year average of 5.1%.Alamance and Forsyth Counties both remain especially tight with recorded vacancy rates of 2.2%and 2.6%,respectively.Average gross asking rental rates jumped to a new historical high of$25.17 per square foot.This represents a 10.7%increase year-over-year after a relatively flat rental rate trend since 2018,indicating the sectors demand for new supply.The first and fourth quarters were the most active of 2022 in terms of leasing activity with more than 69,000 square feet(sf)of new leases and renewals signed between the two,driving the annual total to 107,000 sf.The market recorded healthy occupancy gains in 2022 with nearly 83,000 sf of positive net absorption,outpacing new construction deliveries.One 30,000-sf property adjacent to Alamance Regional Medical Center,developed by Samet Corporation,delivered in 2022 providing much-needed new supply to the market.Over the past five years,only 98,000 sf of new product has been built,growing the markets inventory by 1.8%in that time.MEDICAL OFFICE OVERVIEW4|TRIAD MEDICAL OFFICE|2022 YEAR-END MARKET REPORTDIRECT RENTAL RATE VS.OVERALL VACANCY RATEEMPLOYMENT STATS Q4 2022644.7KTriad Employment4.1%Triad Unemployment Rate3.7%U.S.Unemployment RateYOYChg12-Mo.ForecastCUSHMAN&WAKEFIELD|5COUNTYFORSYTHGUILFORDALAMANCEInventory:2,525,062 SF2,804,428 SF553,864 SFTotal Available:58,678 SF202,935 SF12,187 SFVacancy Rate:2.6%7.2%2.2%Leasing Activity 31,220 SF51,742 SF24,000 SFOverall Net Absorption15,721 SF25,990 SF40,968 SFOverall Asking Rent(All Classes)$22.03 PSF$25.77 PSF$28.10 PSFREGIONAL HEALTHCARE MARKET SUMMARYNORTHGREENSBOROHIGH POINT/SW GUILFORDGREEN VALLEY/MIDTOWNALAMANCECOUNTYGUILFORDCOUNTYFORSYTHCOUNTYAIRPORT/NW GUILFORDGREENSBOROCBDEASTGUILFORDWESTGREENSBOROHIGHPOINTBOROBGREENE ENSBEN BWINST TON-SALEMTSTOSWINWINWINS SN N N N NELONSEDALIAOSSIPEEBETHANIAWHITSETTALAMANCESAXAPAHAWHAW RIVEROAK RIDGEJAMESTOWNWALKERTOWNSTOKESDALERURAL HALLFOREST OAKSSUMMERFIELDSWEPSONVILLETOBACCOVILLEMCLEANSVILLEPLEASANT GARDENCLEMMONSLEWISVILLEKERNERSVILLEMEBANEGRAHAMNORTHFORSYTHWEST FORSYTHSOUTHEASTFORSYTHKERNERSVILLEWINSTON-SALEMCBDBURLINGTON28584078584040404040857473734214214212922031152TRIAD MEDICAL OFFICEMARKET CLUSTERSOverall Asking Rent$25.17 PSFOverall Net Absorption82,679 SFInventory5,610,354 SFTotal Available273,800 SFLeasing Activity106,962 SFVacancy Rate4.9%SPOTLIGHT6|TRIAD MEDICAL OFFICE|2022 YEAR-END MARKET REPORTSPOTLIGHTFROM SUBJECT RE-CEIVED SIZE CATEGORIES AMANDA PIATT/USA RE:BOV-NEEDED-3040 SIDCO 1:23 PM 93 KB AdvanceAdvanceWalkertownWalkertownBethaniaBethaniaWallburgWallburgClemmonsKernersvilleWinston-SalemNovant Health ClemmonsMedical CenterNovant Health ClemmonsMedical CenterNovant Health ForsythMedical CenterNovant Health ForsythMedical CenterAtrium Health Wake ForestBaptist Medical CenterAtrium Health Wake ForestBaptist Medical CenterNovant Health KernersvilleMedical CenterNovant Health KernersvilleMedical CenterFORSYTH COUNTY53214ADDRESSOWNERYEAR BUILTTOTALRBATOTALAVAILABLEVACANCYRATEASKINGRATE(GROSS)1145 Kimel Park DrFront Street Capital200367,0005,6218%$23.752175 Kimel Park DrFreeman Commercial Real Estate199820,1691,6748%$20.0032025 Frontis Plaza BlvdWelltower Inc.199850,12810,97622%$18.754111 Hanestowne CtLyndhurst Gynecologic Associates201655,70000%N/ACUSHMAN&WAKEFIELD|7SPOTLIGHTPleasantGardenPleasantGardenJamestownJamestownGreensboroHigh PointKernersvilleAtrium Health High PointMedical CenterAtrium Health High PointMedical CenterCone Health MedCenterHigh PointCone Health MedCenterHigh PointCone Health WesleyLong HospitalCone Health WesleyLong HospitalCone Health MosesCone HospitalCone Health MosesCone HospitalCone Health MedCenterGreensboroCone Health MedCenterGreensboroGUILFORD COUNTY3214ADDRESSOWNERYEAR BUILTTOTALRBATOTALAVAILABLEVACANCYRATEASKINGRATE(GROSS)11126 N Church StHealthcare Realty Trust Incorporated200368,6723,5005%$28.0022001 N Church StHealthcare Realty Trust Incorporated201825,93600%N/A3510 N Elam AveHealthcare Realty Trust Incorporated198935,2921,8765%$23.5041002 N Church StFlagship Healthcare Properties199991,3525,5716%$24.008|TRIAD MEDICAL OFFICE|2022 YEAR-END MARKET REPORTSPOTLIGHTAlamanceAlamanceElonElonGlen RavenGlen RavenGreen LevelGreen LevelHaw RiverHaw RiverSwepsonvilleSwepsonvilleWoodlawnWoodlawnBurlingtonGrahamMebaneCone HealthMedCenter MebaneCone HealthMedCenter MebaneCone Health AlamanceRegional Medical CenterCone Health AlamanceRegional Medical CenterALAMANCE COUNTY5324ADDRESSOWNERYEAR BUILTTOTALRBATOTALAVAILABLEVACANCYRATEASKINGRATE(GROSS)1963 Kirkpatrick RdMontgomery Assets,LLC202324,00000%$37.5024030 Oaks Professional PkwySamet Corporation202230,0003,38711%Negotiable32921 Crouse LnBurlington Medical Center200414,35514,355100%$26.5041041 Kirkpatrick RdCone Health199523,50000%N/A1CUSHMAN&WAKEFIELD|94030 OAKS PROFESSIONAL PKWYSize:30,000 SFOwner:Samet CorporationDelivery Date:Q2 2022Submarket:Alamance CountyCONSTRUCTION ACTIVITY2022 DELIVERIESA 30,000-sf medical office building located near Cone Healths Alamance Regional Medical Center in Burlington delivered in June,developed by Samet Corporation.The building delivered 88.7%pre-leased to two tenants,Alamance ENT and DRI Alamance,and only 3,387 sf remains available for lease.The property is the first of multiple proposed buildings at the Burlington Medical Office Park project with over 100,000 sf of additional medical office development possible.10|TRIAD MEDICAL OFFICE|2022 YEAR-END MARKET REPORT2101 N CHURCH STSize:7,392 SFStatus:Under ConstructionDelivery Date:Q1 2023Owner:LDJ DevelopmentSubmarket:Guilford CountyCONSTRUCTION ACTIVITYPIPELINE963 KIRKPATRICK RDSize:24,000 SFStatus:Under ConstructionDelivery Date:Q2 2023Owner:Montgomery Assets,LLCSubmarket:Alamance County195 KIMEL PARK DRSize:36,000 SFStatus:Under ConstructionDelivery Date:Q2 2023Owner:Front Street CapitalSubmarket:Forsyth CountyThree medical office buildings are active in the construction pipeline.A 24,000-sf building is underway in Burlington with plans to deliver in Q2 2023.The project,which is 100%pre-leased,is within walking distance of Alamance Regional Medical Center.In Greensboro,2101 N Church St.is under construction less than a mile from Moses Cone Hospital.The 7,392-sf speculative redevelopment project is slated to deliver in the first half of 2023 and remains fully available.Front Street Capital of Winston-Salem has broken ground on a 36,000-sf property located on the corner of Kimel Park Dr.and Burke Mill Rd.The three-story building is expected to deliver in Q2 2023 and is pre-leased to two tenants.CUSHMAN&WAKEFIELD|11PROPERTYTENANTSIZETYPESUBMARKET195 Kimel Park DrDigestive Health Specialists24,532 SFPre-LeaseForsyth County195 Kimel Park DrPiedmont Retina Specialists12,000 SFPre-LeaseGuilford County4030 Oaks Professional PkwyDRI Alamance10,000 SFPre-LeaseAlamance County3804 Vest Mill RdMonarch7,210 SFNew LeaseForsyth County5921 W Friendly AveEagle Physicians5,208 SFNew LeaseGuilford County1507 Westover TerCarolina Age Mgmt.Institution4,625 SFNew LeaseGuilford County6 N Pointe CtEagle Physicians3,100 SFNew LeaseGuilford County2022 HIGHLIGHTSLEASE TRANSACTIONS12|TRIAD MEDICAL OFFICE|2022 YEAR-END MARKET REPORTPROPERTYSALES PRICEBUYERSALE DATESUBMARKET709 Green Valley Rd$10.8M($564 psf)LeBauer HealthcareJanuary 2022Guilford County300 Gatewood Ave$1.8M ($198 psf)Peters DevelopmentJanuary 2022Guilford County445 Pineview Dr$8.8M ($222 psf)Anchor Health PropertiesFebruary 2022Forsyth County2718 Henry St$2.6M($290 psf)Christian Richard Bruning IVMay 2022Guilford County1492 Rymco Dr$3.1M($394 psf)Bonavita PropertiesJune 2022Forsyth County3155 Maplewood Dr$21.5M($548 psf)Catalyst Healthcare Real EstateDecember 2022Forsyth County603 Dolley Madison Rd$5.1M($193 psf)Tilghman&CompanyDecember 2022Guilford County2022 HIGHLIGHTSSALE TRANSACTIONSCUSHMAN&WAKEFIELD|13RYAN GIOFFRE Director+1 336 821 3822 15+years of experience Triad Lead Healthcare Advisory PracticeKATIE TUCKER Brokerage Coordinator+1 336 289 2548 12+years of experience Team Member Healthcare Advisory PracticeBY THE NUMBERSHIGH-PERFORMING TEAMhealthcare advisory practice professionals300+healthcare and senior housing investment sales in 2019$2Blandlord and tenant leasing transaction value in 2019$4.6Bsquare feet of healthcare properties under management35MDREW WALTERS Research Analyst +1 864 704 1345 2+years of experience MBA 60COUNTRIES400OFFICES50,000EMPLOYEES$9.4B2021 REVENUE USD4.8BMANAGED SFHEALTHCARE ADVISORY TEAMWHO WE ARE14|TRIAD MEDICAL OFFICE|2022 YEAR-END MARKET REPORTTRAVIS IVES Managing Director +1 858 334 4041 10+years of experience National Healthcare Advisory Practice Capital Markets Co-leadGINO LOLLIO Managing Director +1 312 338 7061 10+years of experience National Healthcare Advisory Practice Capital Markets Co-leadLORIE DAMON Managing Director +1 314 813 9526 15+years of experience Ph.D.National Healthcare Advisory Practice Leader NATIONAL RESOURCESWE DELIVERMEASURABLE RESULTSCushman&Wakefields Healthcare Advisory Group provides healthcare organizations with strategic and transformational real estate services that directly affect positive business outcomes.More than 300 real estate specialists drawn from a variety of real estate disciplines,including consulting,brokerage,project management,property/facilities management,and valuation,help clients make decisions that enhance patient care and accessibility,generate efficiencies across their platforms,and maximize the value of their real estate.We assist in aligning real estate with healthcare missions,whether that focus involves executing on a single specialty,planning for new care delivery models,or combining multiple practices.Our expertise in the healthcare industry,combined with deep local market knowledge,strong relationships with health systems,physician practices,and other healthcare providers,allows for rapid response to our healthcare clients needs.Services Provided Develop and execute plans for ambulatory care centers and other patient-centric services Align the real estate portfolio with clinical and business strategies,including expansion plans Manage real-estate leases and/or properties Evaluate acquisition and disposition opportunities Maximize margins and access additional capitalCUSHMAN&WAKEFIELD| 2023 Cushman&Wakefield.All rights reserved.The material in this presentation has been prepared solely for information purposes,and is strictly confidential.Any disclosure,use,copying or circulation of this presentation(or the information contained within it)is strictly prohibited,unless you have obtained Cushman&Wakefields prior written consent.The views expressed in this presentation are the views of the author and do not necessarily reflect the views of Cushman&Wakefield.Neither this presentation nor any part of it shall form the basis of,or be relied upon in connection with any offer,or act as an inducement to enter into any contract or commitment whatsoever.NO REPRESENTATION OR WARRANTY IS GIVEN,EXPRESS OR IMPLIED,AS TO THE ACCURACY OF THE INFORMATION CONTAINED WITHIN THIS PRESENTATION,AND CUSHMAN&WAKEFIELD IS UNDER NO OBLIGATION TO SUBSEQUENTLY CORRECT IT IN THE EVENT OF ERRORS.HEALTHCARE ADVISORY TEAMCONTACT INFORMATIONRyan GioffreDirector+1 336 821 Katie TuckerBrokerage Coordinator+1 336 289