Land Advisors Organization recently launched a dedicated healthcare advisory group just in time for what will likely be a boost in healthcare activity. According to the firm, the pandemic will give a greater priority for healthcare needs throughout the region. As a result, the firm expects more hospital restructurings and investment in healthcare infrastructure this year.

"We expect that there will be a heightened awareness and greater priority given to ensuring the healthcare needs of our community are evaluated and plans are developed to address gaps and restructure various aspects of the healthcare infrastructure around the state," Greg Vogel, founder and CEO of Land Advisors Organization," tells GlobeSt.com.

It isn't only Phoenix paying attention to healthcare needs. Municipalities throughout the state have shown an increased need for better healthcare networks. "We have been hearing from municipalities and systems as well as medical providers seeking input from us on what makes sense for the short and long-term needs of the community," says Vogel. "I expect more cities and counties will be making these evaluations." The Phoenix area was already a hotspot for healthcare real estate as a result of tremendous population growth over the last three years. The pandemic is accelerating activity in the sector.

In the last year, healthcare properties have moved into retail centers to be closer to residents. Now, developers are also integrating the asset class into master-planned communities as well. "Master-planned community developers and builders are responding to a heightened interest by their customers to want healthcare facilities in close proximity to their homes," says Vogel. "As a result, I will not be surprised if medical office space and related facilities become amenities for residential developments."

This will be part of the new healthcare team's focus, merging both the needs of operators and addressing community needs and gaps in treatment. "Our focus will be on helping the healthcare sector to evaluate and develop plans that address the healthcare needs in the community, particularly as we come out of COVID-19," says Mike Brinkley of Land Advisors. "We recognize that there will be some changes in the healthcare landscape as a result of the pandemic, and we will work with our clients to align their plans to this new normal. With access to the information and data that we track, we want to be a resource to clients on their strategy for addressing these needs and provide as much support as we can in the healthcare sector."