Duke Realty Reports Strong 2Q Healthcare Development Activity

INDIANAPOLIS, Ind. — Duke Realty reported strong medical facility development and new project starts during the second quarter of 2015.

By mid-year, the company’s healthcare business unit had eight medical office buildings in its wholly owned development pipeline totaling 415,000 square feet, with three medical facilities totaling 168,000 square feet started in the second quarter. In addition, at the end of the second quarter, occupancy in the company’s in-service medical office facilities was 94.9 percent, up from 94.2 percent at the end of the first quarter. The new healthcare projects that began during 2Q included two MOBs in Colorado totaling 92,000 square feet and a 75,000-square-foot medical facility in Texas.

Keith Konkoli, Duke Realty’s executive vice president, Healthcare, said the company has recently seen an influx of medical office facilities in its development pipeline, which mirrors the healthcare industry as a whole.