As our population continues to grow and seniors require more healthcare services, medical office space has become a key component in providing necessary care. In light of this, medical office buildings have seen a surge in construction projects both in terms of owner-occupied properties as well as rentable facilities. According to the article, this trend has been further accelerated by the pandemic and has come out of it as one of the more resilient commercial asset types compared to other industries.
These multi-tenant medical buildings offer investors a way to diversify their portfolios amid uncertainty and provide a reliable source of income long-term. Medical office spaces have become an attractive investment choice for many reasons, from high occupancy rates due to their essential nature, too strong lease terms and promising returns on investment. Furthermore, these buildings can accommodate more medical tenants than traditional single-story offices due to their larger size and specialized capabilities.
When designing these larger multi-tenant office spaces, certain considerations must be taken into account such as adhering to regulations set forth by the Health Insurance Portability & Accountability Act (HIPAA), ensuring patient privacy is maintained, installing infection control features like air filtration systems or anti-microbial finishes on walls and fixtures, and making sure all safety protocols are followed. Additionally, these spaces must also meet aesthetic requirements such as using natural lighting or incorporating calming colors into design elements so patients feel comfortable during appointments.
Overall, multi-tenant medical buildings are playing an increasingly important role in providing essential healthcare services while giving investors an opportunity for reliable returns on their investments even in uncertain times. As our population grows and demand for health care increases in metropolitan areas around the country, this trend is likely to continue growing well into the future.
Z-Co is developing a medical office building called MedPlex, in Katy, TX.