Approximately 11,000 baby boomers will retire each day this year and that figure will impact commercial real estate construction labor and increase demand for hospital visits and thus, medical office buildings.

These seniors will leave carrying unique skill sets, particularly when it comes to construction, according to John Chang, Senior Vice President, National Director of Research and Advisory Services for Marcus & Millichap.

Employment of people over the age of 55, the closest proxy for baby boomers available from the Bureau of Labor Statistics, is plentiful in career fields such as agriculture, financial services, manufacturing, education, and health services.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
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.