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2022 Healthcare Marketplace

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Medical Office Fundamentals Strengthen, Despite COVID-19 Disruptions

The medical office sector continues to go from strength to strength, setting record highs for asking rents, sales volume and pricing in 2021. Demand is outpacing supply, vacancy remains tight and cap rates are compressing. Development activity is picking up, reflecting confidence in the sector.

This performance is particularly impressive given the continued impact of COVID-19 on the healthcare industry and society in general. Looking forward, we have identified several key themes the healthcare industry is facing over the year ahead:

  • COVID-19: The continued Federal response to the pandemic and its path going forward.
  • Staffing Shortages: Burnout among healthcare professionals is rife with an increasing number of workers leaving the industry.
  • Supply-Chain Challenges: Bottlenecks and shortages persist with the Russia-Ukraine conflict potentially exacerbating the situation.
  • Telehealth: How will telehealth services shift post-pandemic and will Federal funding continue?
  • Digital Health: Venture capital (VC) funding continues to set new records. What are some of the possible innovations going forward?
  • The Economy: How will record inflation impact the key stakeholders in the healthcare sector?
  • Policy Outlook: How long will the national state of emergency continue and what are the implications once it ends?

Each of these issues is explored in detail in the report, after first reviewing 2021 in terms of both the impact of COVID-19 and the performance of healthcare real estate and medical office properties in particular.

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2022 Healthcare Marketplace

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Related Experts

Shawn Janus

National Director, Healthcare Services

Chicago - Downtown

As National Director | Healthcare for the USA, Shawn's focus is to cultivate a strong, value-driven platform in the healthcare space, allowing Colliers to raise the bar in delivering innovative and successful solutions to our healthcare clients.  

Shawn brings more than 30 years of commercial real estate experience, including more than 20 years dedicated to the healthcare real estate sector.  He has held senior positions as both principal and advisor.  Shawn's clients have included health systems, hospitals, physician groups and third party owners/developers.  He prides himself on understanding the drivers of the healthcare industry, and applying that knowledge to help clients develop real estate strategies which support their vision and achieve their goals.  

Prior to joining Colliers, Shawn served at Caddis Healthcare Real Estate as Managing Director, where he was responsible for new business development and executive leadership of healthcare real estate projects throughout the Midwestern U.S.  Previously, he served in leadership positions at Pacific Medical Buildings, JLL, and Lillibridge.  During his tenure as Managing Director, Healthcare Solutions for JLL, Shawn was responsible for the strategy, business plan and organizational structure of the firm's healthcare practice.

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Stephen Newbold

Director of National Office Research

Washington, DC

Stephen has over 35 years of Commercial Real Estate (CRE) Research experience gained in both the U.S. and U.K. He has an expert knowledge of many CRE markets across the U.S. Having worked with brokerage firms, asset managers and data providers he has a broad spectrum of experience and is adept in forecasting, analysis and strategy. Prior to joining Colliers, Stephen was a Research Director with CoStar based in Washington D.C. His career history also includes eight years as Director of U.S. Office Research with Deutsche Asset Management and six years as Head of Research with Newmark Knight Frank in London, U.K.

At Colliers, Stephen is responsible for all aspects of U.S. National Office research including authoring quarterly reports, press interviews and multi-market analysis. He works closely with multiple Colliers' business lines including Office Services, Capital Markets, Healthcare, Law Firm Services, Property Management and Occupier Services. He’s a frequent author of blogs and thought leadership pieces as well as giving presentations to clients and industry groups.

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