Despite Demand, Repurposing of Retail to MOB Still Lags

Despite Demand, Repurposing of Retail to MOB Still Lags

With the expected demand surge for medical office in the next few years, developers such as Duke Realty say a major trend for medical office this year would be the buy-up of vacant retail property for renovation, particularly the ghost buildings that defunct chains vacated due to the recession and obsolescence.

The demand surge is still underway. Medical office building (MOB) vacancy has dropped nationally to about 10.5 percent from the 15 percent peak in 2009, with a

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