Adaptive reuse for medical facilities expected to remain strong

Posted on June 25, 2018

The adaptive reuse of vacant or underused property into medical facilities is continuing to gain momentum nationwide, as many health care services are increasingly being offered away from hospital settings at the same time that patterns in the retail and office environments are shifting.

That is the key takeaway from the newly released Avison Young report “Evolution of Health Care and its Impact on the Real Estate Landscape in the United States.” According to Tula Voutieros, author of the report and senior research analyst in Avison Young’s Fairfield/Westchester office, health care providers are increasingly adopting entrepreneurial real estate strategies as both technology and a consumer-driven market are driving changes in the wellness industry due to increasing costs, diminished reimbursements and high demand from an aging population.

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