Article written by Robert Carr | Jan 11, 2016
“Health care real estate, particularly medical office properties, promises to continue to post strong occupancy stats in 2016. However, there’s still enough volatility in the sector stemming from the Affordable Care Act aftermath, changes in technology and hospital consolidation to keep growth and transactions to a minimum, according to industry executives.
Investor demand for these stable, well-performing properties has been high, and there’s no lack of new development. Every state experienced active medical real estate construction in 2015, according to research firm Revista, with more than $86 billion in new construction in the first half of last year alone. Much of this new development centered on medical office buildings, as hospitals continue to try to reach an expanding consumer base.
Health systems are looking more to retail centers to build new medical office building (MOB) projects, says John Wilson, president of Chicago-based HSA PrimeCare, which develops real estate strategies for the health care sector. This strategy includes converting and backfilling vacancies left behind by big-box retailers that either downsized or went out of business during the recession. Wilsons says the health systems are trying to make access to care more convenient.”
Mike Stinson, a native of Monroe, Louisiana, is a graduate of Louisiana State University (LSU). A real estate licensee since 2004, Mike specializes in the sale and leasing of commercial real estate. A Designee member of the Certified Commercial Investment Member Institute (CCIM), Mike’s other professional memberships include Baton Rouge’s Commercial Investment Division (CID), the LSU Alumni Association, REALTOR Land Institute (RLI), and an affiliate member of the National Association of REALTORS® (NAR).
Saurage Rotenberg Commercial Real Estate is a member of the Baton Rouge Area Chamber of Commerce (BRAC); the West Baton Rouge Chamber of Commerce; the Baton Rouge Growth Coalition; the Baton Rouge Better Business Bureau; the Louisiana Commercial Data Base (LACDB); and the International Council of Shopping Centers (ICSC). Several agents, on an individual basis, are members of the Society of Industrial and Office Realtors® (SIOR), the Certified Commercial Investment Member Institute (CCIM); the National Association of REALTORS® (NAR); and the Greater Baton Rouge Association of REALTORS® Commercial Investment Division (CID).