As Orange County healthcare boom continues, healthcare facilities progress from planning to reality, and the industry continues to employ more people. (And what do people need? Space... and a yearly physical.) Hear all about it at Bisnow’s third annual Orange County Healthcare Real Estate Summit on Thursday at the Balboa Bay Resort. Sign up here.
Here’s one amazing industry metric: OC healthcare employment has grown every year since 1990, including every year during the recession. (Is that the strength of the industry or our weak immune systems?) Back in 2008, countywide healthcare employment was 134,300, and by last year it was 156,400—roughly 10% of the county’s total employment. Our panel of experts will include St. Joseph Health’s Chuck Coryell, Newmark Grubb Knight Frank’s Garth Hogan (snapped at last year’s event), Kaiser Permanente’s Michael Huaco, HealthCare REIT’s Kevin Kirn, Lionakis’ Scott Mackley, Pacific Medical Building’s James Rohan, Hoag Memorial Hospital Presbyterian’s Sandy Smith, and Colliers International’s John Wadsworth.
All that growth’s going to be good for OC MOB and the investors who love it. MOB’s emerging as a strong choice for portfolio diversification, Garth says. Multifamily’s been the darling for a long time, but he says he’s seeing a shift toward the stability of medical office, especially in an attractive market such as South Orange County. Pictured: the 27k SF Aliso Viejo Medical Center. Garth, along with colleague Todd Perman and Richard Bland of Cornish & Carey Newmark Knight Frank, first arranged the renewal of the property's largest tenant, and then repped the seller in the property's disposition; Guggenheim Realty Group acted as advisor for the buyer, a private equity fund. Find out more about our summit here.
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