VOLUME 33, NUMBER 9
©2017 Real Estate Publishing Corporation
September 2017
Aging Baby Boomers Driving Demand for Medical Office Space
While it’s still unclear what will happen with the Affordable Care Act, demand for medical office space is expected to remain strong as baby boomers continue aging and healthcare real estate increasingly expands into retail space and new markets to be closer to patients. One new report says boomers could drive demand through 2055.
By Liz Wolf
T
he giant, aging baby boom generation -- along with pressure for healthcare providers to cut costs and new technologies -- is boosting demand for medical office properties, according to a new CBRE report. Baby boomers’ growing need for care and access to a wide range of medical facilities is shaping the
way health care real estate is being used and developed. The U.S. Census Bureau estimates that the number of Americans 65 years and older will double to more than 92 million by 2055. Boomers will comprise nearly 23 percent of the country’s total population at that time. In fact, more than 10,000 baby boomers are turning 65 every single day. Here in Minnesota, the number of people turning Boomers to page 12
2017 Minnesota Real Estate Hall of Fame Inductees
A
t the University of St. Thomas, the mission is to prepare students for holistic success. Through an education in business practices as well as education in the consideration and application of ethical values in decision making, the University of St. Thomas promotes a holistic perspective advancing “The Common Good.” The Shenehon Center for Real Estate was founded to enhance and promote the University of St. Thomas’ mission of education and leadership within the real estate industry. Towards this goal, the Shenehon Center for Real
Estate founded the Minnesota Real Estate Hall of Fame in 2010. The Hall of Fame serves recognition of individuals demonstrating high standards of leadership and business accomplishments while pursuing service to their communities. Since 2010, the Minnesota Real Estate Hall of Fame has recognized 29 individuals who guided companies influencing the landscape of Minnesota. These individuals can be characterized as the “shoulders on which we stand.” Being on their shoulders [due to their accomplishments], those in the industry are able to see
farther; we are able to build upon their successes to advance “The Common Good” through high standards of leadership, ethical decision making, and service to the community. By preserving the names of those who have made significant contributions to Minnesota real estate and have demonstrated care and concern for improving their communities, the Minnesota Real Estate Hall of Fame and the Shenehon Center for Real Estate proHall of Fame to page 15