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Next-Generation Medical Office Design Emphasizes Efficiency And Aesthetics

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Rendering of Circle Health’s Dracut facility

Healthcare represents a rapidly growing, and dramatically evolving, asset class. Healthcare construction in the U.S. last year totaled $41.4B, accounting for 9% of nonresidential spending, according to NAIOP. Demand is high and projected to increase, as Americans spent an unprecedented $3.2 trillion, roughly one-sixth of the U.S. gross domestic product, on healthcare in 2015.

According to Colliers, 22M SF of healthcare product was delivered last year, up 57% from the 14M SF that arrived in 2015. Medical office building vacancy rates hit an all-time low while average rents rose and net absorption was the highest seen since 2008.

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