06/04/2023
"Between the healthcare industry's mission to reduce hospital visits and consumer preferences among the aging baby boomer population, the surge of healthcare facilities and medical office buildings (MOBs) is expected to continue," Connolly Vice President of Real Estate/Development Thaddeus Minshall writes in High-Profile's June 2023 Healthcare Issue. "From standalone facilities to medical office complexes, many investors view MOBs as one of the safest bets in real estate, with success dependent on developers' degree of field-specific knowledge."
"The specialized nature of a MOB fit-up involves more extensive investment than a standard office building; this investment is generally rewarded in the form of longer leases, higher rents, and lower tenant turnover," Minshall notes. "While these factors make MOBs a popular target among developers open to the added up-front costs, it's critical to understand that designing and building a MOB requires specialized expertise in areas such as building materials, nuanced MEP needs, accessibility, office flow, and acoustics."
Read Minshall's full column in High-Profile here.
"The specialized nature of a MOB fit-up involves more extensive investment than a standard office building; this investment is generally rewarded in the form of longer leases, higher rents, and lower tenant turnover," Minshall notes. "While these factors make MOBs a popular target among developers open to the added up-front costs, it's critical to understand that designing and building a MOB requires specialized expertise in areas such as building materials, nuanced MEP needs, accessibility, office flow, and acoustics."
Read Minshall's full column in High-Profile here.
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