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Feature Story: Outpatient HRE development dipped 9.7% in 2020

But Revista’s annual survey found that activity was still relatively strong

with the remaining By John B. Mugford

National Real Estate Advisors (NREA) started only one project in 2020, but it was Jefferson Health’s planned 19-story, 452,000 square foot ambulatory clinic in Philadelphia — a project so large that it singlehandedly moved NREA up to second place in the “projects started” category of Revista’s annual HRE development report. (Rendering courtesy of NREA)

It looks as if the COVID-19 pandemic might have reached its tentacles into the outpatient development sector in 2020, as the amount of square footage started or completed during the year fell by about 9.7 percent from 2019.

According to the fifth annual Outpatient Real Estate Development Report by Revista, an Arnold, Md.-based firm that provides a variety of research and data concerning the healthcare real estate (HRE) sector to its subscribers, the total square footage of projects “started or completed” in 2020 was

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