Q2 2026 MEDICAL OFFICE UPDATE
- Colliers | Columbus
- 1 day ago
- 1 min read
Written by: Jake Lord
Jake specializes in research capabilities, providing support for the Colliers Columbus Office, Industrial, and Retail groups. He is responsible for executing data reports, maintaining a commercial property database, reporting quarterly trends, performing data analysis, and utilizing statistical information to predict future behavior in the market. Keep reading for insights on the Columbus medical office market.
Key Takeaways
Health System Expansions: OhioHealth and The Ohio State Wexner Medical Center are leading the growth of healthcare facilities in Columbus. OhioHealth is expanding its campuses at Grant Medical Center and Riverside Methodist Hospital. OhioHealth’s new women’s health center at Riverside and Ohio State’s outpatient care center in Powell are both expected to open in late-2026 or 2027.
Occupancy Trends: Occupancy rates are now at 94.9%, which is above the national average. This reflects a general slowdown in new construction for non-hospital medical buildings given the current combination of high interest rates and building costs.
Lease Rates: Average lease rates for healthcare properties in Columbus largely stayed the same at $22.45/SF quarter-over-quarter and remain below the national average. Lease rates are elevated in the East and Downtown submarkets, at $27.19/SF and $25.00/SF, respectively.
Insurance Uncertainty: From the tenant side, we have seen a notable slowdown in deal activity for practices with a significant Medicaid or Medicare base given uncertainty in those markets. Private equity valuations for behavioral health platforms show a preference for geographic diversification and healthy insurance mixes.
Check out the full Q2 2026 Medical Office Trends report here!
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