The Greater Greenville, SC medical office market continues to perform well as medical practices and hospitals continued to expand. Medical Office Building's (MOB) continue to expand into fast growing communities. We found that 36% are owner occupied, 37% are leased (non-hospital) and 27% are leased through one of the hospital systems. We are continuing to see an expansion of satellite offices of the existing practices in the areas of population.
The Greater Greenville Medical Office Market is controlled by two major hospitals. The hospitals include Greenville Hospital Systems (GHS) and St. Francis Hospital Systems (SF). GHS is comprised of Greenville Memorial Hospital, Children's Hospital, Allen Bennett Hospital in Greer, Hillcrest Hospital in Simpsonville, North Greenville Hospital in Travelers Rest and Patewood Medical Campus.
SF is comprised of St. Francis Hospital, St. Francis Women's & Family Hospital at Patewood, St. Francis Outpatient Surgery Center and Patewood Surgery Center.
The Greenville medical office market forecast for the balance of 2003 is continued growth fueled by the high-growth areas that dictate a need for services including medical. There are several projects planned that are physician owned that will also have additional available space for lease.
New medical construction areas include the Eastside of Greenville, Simpsonville, and Woodruff Road. There is also great potential for future development in Greer with the announcement by Greenville Hospital System of land acquisition for a new complex in that area.
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