Medical office is one commercial category that has remained relatively recession resistant and it is expected to escape the current economic struggles.
Quoted in Globe Street, Richard Kelley, director of the RealShare Conference Series, said medical office is still an area that is growing and the expansion will continue, even as other markets stand still.
Driving the medical segment: An aging population that requires more medical care coupled with the hospital building boom of recent years.
A recent study by Marcus & Millichap, characterizes the long-term outlook for medical office as increasingly mainstream. "Once viewed as a higher risk specialty asset, medical office properties have become main stream for private and institutional investors. Long-term leases and low tenant turnover, combined with a stable market outlook and advancing medical technology point to a positive future," according to the study.
Maria Suzette Smith
elitemd@yaho.com
www.elitetitleonline.com
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