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After Slight Decline, Healthcare Development Expected to Rebound
Outpatient healthcare development projects totaling more than 34 million square feet were started or completed in 2017, a decline of 4.6% compared to the previous year, according to a new report from research firm Revista.
“Outpatient construction starts have come off their highs set in 2015, but are expected to rebound in 2018,” says Revista Co-Founder and Principal Mike Hargrave.
According to the Revista report, the top 10 outpatient healthcare developers, based on square feet started or completed in 2017:
1. MedCraft Healthcare Real Estate
2. Healthcare Realty Trust
3. NexCore Group
4. HTA Development
5. Realty Trust Group
6. Rendina Healthcare Real Estate
7. Davis
8. Ryan Companies
9. Meadows & Ohly
10. Concord Healthcare
The report, developed in conjunction with Minneapolis-based Healthcare Real Estate Insights, defines outpatient projects as all MOBs, outpatient surgery centers, dialysis centers, clinics, freestanding emergency rooms/departments, imaging centers, urgent care centers, retail medical buildings and other purpose-built medical buildings where outpatient care is provided.
Revista and HREI collected and verified data on outpatient development projects started or completed in 2017 that exceeded $2.5 million in value, and that included at least 5,000 square feet of new or renovated space.
For questions, comments or concerns, please contact Jennifer Duell Popovec
- ◦Development
