chi-inland medical (2) 929 W.Higgins Rd. in Schaumburg, IL, was one of four medical propertiesjust sold by Oak Brook, IL-based IPC.

CHICAGO—Once considered something of an afterthought byinstitutional investors, medical office has rapidly establisheditself as one of the most desirable sectors. And with so manyfavorable trends, including the aging of the US population and thedesire among patients to see medical professionals in newfacilities close to home, experts say new construction shouldcontinue proceeding at a healthy clip. For most kinds of commercialreal estate, a rapid expansion is usually taken as a sign that amore cautious approach may be needed, at least from an investmentstandpoint. But medical office will probably escape that trap.

“There has been an ever-so modest uptick in vacancy in the lastyear,” Alan L. Pontius, senior vice president andnational director specialty divisions at Marcus &Millichap, tells GlobeSt.com. However, “we had beenoperating a ten-year low.”

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.