Getting your player ready...
Commercial real estate firms long have tracked most aspects of income-producing asset types – offices, industrial, retail, as well as apartments and even land, in some cases. Now, Newmark Knight Frank Frederick Ross, is offering what it calls Denver’s first-ever Medical Office Building (MOB) Market Trends report.
The detailed report includes a summary of MOB activity in the seven-county metro Denver market for 2010, and gives a comparison of quarterly and year-to-date absorption, vacancy rates and rental rates for both on-campus and off-campus buildings by geographical submarket. The report also includes major building sales transactions for the year as well as an overview of the current supply line, with a breakdown of recently completed buildings and buildings currently under construction.
Medical building data crucial
Newmark Knight Frank Frederick Ross brokers Dann Burke, a Certified Commercial Investment Member, and Brett Herner, also a CCIM, specialize in healthcare real estate leasing and sales, and worked hand-in-hand with Newmark Knight Frank Frederick Ross Research to create the report.
“We are thoroughly excited to add such a unique and useful tool for our clients,” said Burke. “This report puts key market data at our fingertips, and will certainly elevate the quality of information now available to our clients.”
Herner said Newmark Knight Frank realized that this important aspect of the market did not have the consistent, in-depth data that the investors and users need.
“One of the great things about our company is its nimbleness in adjusting to the market, both locally and on a global level,” Herner said. “This report is another example of how Newmark Knight Frank is the leading authority for commercial real estate. We saw a need for the MOB market, and we filled it.”
The company’s MOB data is collected until the end of the reporting quarter and is obtained from representatives of various properties, the combined knowledge of Newmark Knight Frank Frederick Ross brokers and reliable outside sources, according to Newmark Knight Frank Frederick Ross Research.
MOB: In a class of its own
“The dynamics of the MOB market are different from those of the commercial office market,” said Director of Research Lauren Douglas of Newmark Knight Frank Frederick Ross, “For instance, medical leases tend to be long-term, and on-campus MOBs have little or no competition. These and other unique and distinctive factors warrant a separate and thorough examination, and that’s just what our research group has done in this report.”
Newmark Knight Frank Frederick Ross Research has actively tracked the Denver commercial real estate market and produced highly-detailed market reports for more than 30 years. In addition to the new bi-annual MOB reports, Newmark Knight Frank Frederick Ross Research publishes quarterly, detailed market trend reports on the Denver and Boulder industrial, office, and retail markets.
At a corporate level, Newmark Knight Frank publishes market reports covering numerous national and international markets. Newmark Knight Frank Research applies uniform selection criteria which yield an index, made up of select investment-quality assets, for each market. This methodology allows high-level comparisons across global markets.
About Newmark Knight Frank Frederick Ross
Newmark Knight Frank joined forces last year with Frederick Ross Co., the largest privately held commercial real estate office in Denver. Newmark Knight Frank Frederick Ross has invested more than a century building the region’s largest full-service, independent commercial real estate organization. With a solid reputation for superior knowledge and proven results, Newmark Knight Frank Frederick Ross services include leasing advisory, investment sales, property management, consulting, development, marketing and research. To learn more , please visit this Newmark Knight Frank Frederick Ross link. http://www.newmarkkffr.com./
Newmark Knight Frank is one of the largest independent real estate service firms in the world. Headquartered in New York, Newmark Knight Frank and London-based partner Knight Frank operate from over 220 offices in established and emerging property markets on six continents. With a combined staff of 7,300 and revenues last year exceeding $861 million, this major force in real estate addresses the local and global needs of owners, tenants, investors and developers worldwide. For further information, please visit this Newmark Knight Frank link. http://www.newmarkkffr.com./
Contact John Rebchook at JRCHOOK@gmail.com
