Every year, Revista collaborates with HREI to produce a report which summarizes the development of outpatient medical facilities across the US. Data from a survey of real estate developers is combined with Revista’s existing data to paint a clear picture of recent development activity.
There were nearly 45 million square feet (sf) of projects that either started or completed in the year 2022, with 18.8 million being completed by 3rd party developers. Compared to 2021, starts are up by about 1.6 million sf and completions are down around 2.4 million. As usual, the majority of construction is located on a hospital campus or affiliated with a hospital/health system. When looking at all outpatient projects, Hammes developed the most with a count of 12, for a total of 769,658 sf. When only looking at projects that were completed, US Federal Properties came in on top with 5 for a total of 706,097 sf.
For a more detailed breakdown, as well as how 2022 stacked up against previous years, subscribers can download the full report at: