Aging Baby Boomers Drive Medical Office Complex Demand in Commercial Real Estate
Index • Baby Boomer in the United States • Buying medical office property • Medical offices moving to • Health care prices and comfort • Choosing to invest in a medical complex • Horizon Resources Inc.
Baby Boomer in the United States • As the Baby Boomer population in the United States continues to age. • Therefore, the need for more medical services increase. • Due to which the demand for medical office complexes in commercial real estate is increasing. • By the report filled by U.S. Census at the end of 2019, concluded that roughly 70 million Americans aged 65 years and older by 2028. • This increases the aging population today by 15 million.
Buying medical office property • In terms of commercial real estate property, it is no wonder that buying medical office property makes sense. • There is also a lack of enough new medical office space being built nationwide, as only 9.6 million square feet were added in 2019. • Demand increases, while lowering vacancy rates and increasing rent. • Vacancy rates have dropped to 8% while rent increases have gone up to 2.7%, which beats traditional office space rentals at 2.4%.
Medical offices moving to • Medical complexes are even appearing next to strip malls, urban stores, and shopping malls to meet demand. • This ranges from eye care centers to dentists, physical therapy, chiropractors, and urgent care facilities. • One of these types of stores’ main attractions is the ability to offer the patient convenience and comfort. • These spaces are easy to access with plenty of parking and close to neighbourhoods and homes.
Health care prices and comfort • Consumer spending on health care has also jumped by 20% in the last five years • While expenses on popular retail items such as clothing have gone up by 8% during the same period. • The most popular medical facilities in operation today, increasing by as much as 43% in the last 7 years.
Choosing to invest in a medical complex • Be sure to select a suitable commercial real estate management company to operate the facility for you and respond to maintenance requests. • Choose a commercial property management company with experience working with medical and healthcare requirements. • When you are looking for a commercial property management company in the San Diego area, you can turn to Horizon Resources Inc. to assist you with your property management needs.
Horizon Resources Inc. • Horizon Resources, Inc. is one of the leading property management company
expertize in property management, HOA management, commercial property for sales and leasing, tenant improvements, property maintenance and tenant representation. • We can provide your commercial HOA with everything you need including compliance with HOA and tax laws, strategic budgeting & reserve studies, conflict resolution and more. • Our team of experts, along with technology, will secure the best-qualified tenants to ensure the highest stable income possible. Our staff will cater to each property’s specific needs to ensure excellence. • We are serving our services in San Diego, Carlsbad, Poway, Escondido, San Marcos, Vista, and Oceanside.
Contact Horizon Resources, Inc. Address: 2260 Rutherford Road, Suite 111 Carlsbad, CA 92008
Phone: (760) 692-5205 Fax: (760) 692-5210 Email: HRI@HorizonResourcesInc.com
For a FREE Property Management Consultation: (760) 692-5205