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Medical Office Momentum Stays Resilient

NEW YORK CITY-In this EXCLUSIVE commentary, Savitt Partners' Michael Dubin says medical office has not seen the same sort of pullback that other industries have experienced.

By Michael Dubin, a partner at Savitt Partners | Updated on August 08, 2013

NEW YORK CITY-Thanks to a steady stream of healthcare consumers, the medical office sector has remained largely resilient in the face of economic headwinds. Indeed, people fall ill regardless of the health of the economy, and as a result, medical office has not seen the same sort of pullback that other industries have experienced.

Although a niche sector, according to the 2013 Emerging Trends in Real Estate report from Urban Land Institute and PricewaterhouseCooper, “medical office space presents compelling investment opportunities as the nation’s health care industry balloons to take care of graying baby boomers.” In addition, despite whatever criticism people might have about President Obama’s healthcare reform bill, it will ultimately result in health insurance for nearly 30 million additional Americans, which means more medical office space will be required. The ULI/PwC report notes that “the demand from doctors, clinics, labs and rehab providers is ‘crazy to ignore.’ Landlords should not have problems leasing space anywhere near hospital centers and medical complexes.”

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