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San Diego’s medical office vacancy rate has fallen to its lowest point since 2006. According to research from Cushman & Wakefield, the medical office vacancy rate fell to 6% in the second quarter, 800 basis points lower than the height of 14% in 2009. As vacancy continues to fall, medical office rents have inched up to $3.10 per square foot, a 1.3% year-over-year increase.

“An aging population and increased number of insured patients are driving the need for additional healthcare,” Joe Zurek, senior associate of the healthcare advisory practice at Cushman & Wakefield, tells GlobeSt.com. “Faced with the need to expand services and at the same time cut costs, healthcare providers are increasingly consolidating into larger groups that are relocating into newer and larger spaces.”

Kelsi Maree Borland

Kelsi Maree Borland is a freelance writer and editor living in Los Angeles whose work has appeared in such publications as Travel + Leisure, Angeleno and Los Angeles Magazine.

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