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The healthcare industry remains one of the most resilient commercial real estate sectors. Tested and proven repeatedly over the last five years, the industry has emerged from the pandemic and looks toward an innovative future. According to JLL's new Healthcare Real Estate Outlook, five trends will dominate healthcare in 2024: a focus on organizational fitness; rising costs alongside a tight talent pool; consolidation shakeups and vertical integration; disruptors that accelerate consumer-focused care; and artificial intelligence (AI) moving from theory into practice.
Median hospital margins were negative for over a year between January 2022 and February 2023, according to Kaufman Hall, and half of hospitals and health systems are still operating at a loss despite deceleration in wage growth and inflation. Fortunately, macroeconomic forecasts predict inflation will continue to slow during the year, but prices and interest rates are expected to remain high for the moment. For healthcare systems, this means margins are likely to improve, causing them to look to other areas, including real estate to combat rising costs.
According to a July 2023 survey, JLL healthcare and life sciences clients ranked reducing operating costs as their top priority, leading health systems and care providers to look to their real estate to reduce costs and improve revenue. Increasingly, that will include assessing their internal real estate function and organization, in addition to the more traditional emphasis on the operating costs of the owned and leased properties.
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Marmoleum Solid contributes to the well-being of individuals by bringing nature inside, creating healthy spaces to work, learn, heal and play. The Solid collection is minimalistic, pure, and timeless, providing a long-lasting foundation that never goes out of style and mixes well with other interior finishes. Made from natural, renewable and recycled materials, Marmoleum is unique, as carbon dioxide emissions are absorbed by its raw materials. The combined photosynthesis of all plants used in Marmoleum achieves CO2 uptake that is greater than the CO2 emissions resulting from production and transportation.
Marmoleum relieves the environment of carbon dioxide, and it is climate-positive from cradle-to-gate, without offsetting. Marmoleum’s natural ingredients provide it with inherent anti-microbial and anti-static properties that won’t diminish over time, contributing to a healthier indoor environment. Marmoleum Solid’s Topshield Pro finish provides the best in durability with lasting wear performance and improved stain-resistance, including those from hand disinfectants.
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The building technology issues at healthcare facilities and medical office buildings demand optimal performance at all times. FMs in healthcare and their building ops teams are seeking training because new tech, building operations and maintenance techniques are always emerging. For hospitals’ FM leadership and the staff they manage, it’s important to keep abreast of developments through education and visiting with suppliers. Training, networking and product knowledge have a solid home at NFMT 2024, the National Facilities Management & Technology show in Baltimore, March 12-14, themed, “We Are FM.”
As the first FM show every year, The McMorrow Reports & FMLink always attend, eager to see what’s concerning industry professionals and exploring sessions that are relevant for our readers. Education sessions that may have the greatest appeal for healthcare building managers include:
NFMT offers educations sessions in the following tracks: Asset Management; Energy & Sustainability; Future Trends; Health & Safety; M&O; Security; and Technology.
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Universal Fibers recently announced that its Thrive matter nylon 6 fiber has achieved a C2C Certified Material Health Certificate at Silver and Gold levels, as verified by the Cradle to Cradle (C2C) Products Innovation Institute. This is the first such certificate to be issued to any fiber under the Institute’s rigorous new Version 4 standard. Across all industries and categories, only 74 products have received Version 4 certification to date. As described in the C2C Certified Product Standard v. 4.0, Material Health certification indicates that “Chemicals and materials used in the product are selected to prioritize the protection of human health and the environment, generating a positive impact on the quality of materials available for future use and cycling.”
To meet these levels of certification, 100% of the materials that comprise Thrive matter nylon 6 fiber have been assessed and found to be optimized for material health both in terms of optimal substances it does contain, undesirable substances it does not contain, and its emissions of volatile organic compounds (VOCs). This assessment also serves as the foundation for a material health optimization strategy to further improve material health over time.
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How many acres of floorspace do facility managers have to cover, literally? And where can FMs, their interior designers and architects find all the tile and stone trends and solutions in one place? Coverings, of course, Coverings, April 22-25 in Atlanta.
Workplaces are evolving and office spaces are being revitalized after a long pause. Along with the varied spaces is the demand for a variety of flooring solutions mixing carpet tiles and broadloom with hard-surface luxury tiles and stones. Some decisions have been made about returning to the office, and companies are preparing new interiors to meet the needs of the hybrid workplace. Further, campus life is also changing, and more hard-surface is coming into student teaching spaces, computer labs and dormitories.
Coverings attracts thousands of distributors, retailers, stone fabricators, contractors, specifiers, architectural and design professionals, facility managers, builders, remodelers, as well as reporters and bloggers who cover the tile and stone industry. These industry professionals attend Coverings to explore the latest trends, source global products, network with industry peers, gain project inspiration, access information and to find solutions to grow their business. Education sessions cover installation and fabrication, materials and trends, and workforce and profits.
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By Sara Marberry — Over the past several years, ESG (environmental, social and governance) has transformed from a buzz term to an important framework for healthcare organizations to implement. That’s why Modern Healthcare, the industry’s leading business magazine, hosted its second annual ESG summit for healthcare leaders last June. One reason is because in evaluating the financial health of organizations, regulators — such as ratings agencies and the U.S. Securities and Exchange Commission — are taking ESG metrics into consideration.
Another reason is many of the healthcare real estate investment trusts (REITs) that provide funding for capital projects want to invest in healthcare and senior living organizations that have strong ESG policies. They are looking for healthcare and senior living organizations that have a history of aligning their operations to support programs that benefit not only the environment but also their employees, local communities, and shareholders. It’s also the right thing to do.
Profits with a purpose
Some in the financial world are not convinced that you can make profits with a purpose. Recently there’s been a lot less interest in investing in ESG funds. But that’s different than investing in companies that have strong ESG policies.
Recently, the Wall St. Journal reported that due to investor backlash, political pressure, and legal threats, many business leaders are now making a conscious effort not to use the term. And yet, many companies still have ESG programs. They just don’t call it that. The Wall St. Journal article also points out that “some dimensions of ESG, particularly the social goals, can be difficult to quantify.” It may not be as hard for healthcare organizations, though, since many already have a social mission.
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Boston-based architecture, design and planning firm SGA has announced the completion of a dynamic repositioning project at One Charles Park, located in the growing life science cluster of Cambridge, Massachusetts.
Delivering 400,000SF of flexible suites across six floors, this fit-out puts interconnectivity and human-centric design at the forefront, embodying the larger market shift toward blending business and science spaces as the life sciences industry becomes more public-facing. Glass partition walls between labs and offices break traditional silos, while aiming to create transparency and advance the discovery pipeline through knowledge-sharing across scientists, operations, and administrative teams.
The footprint for each of the six floors is nearly identical, on average offering 79,000 SF of space. While each suite’s layout, programming, furniture and materials are unique to the tenant’s needs, open floor plans equipped with flexible workstations and integrated technologies are diffused through each.
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Plans are taking shape for the 55th edition of NeoCon to be held June 10-12 at THE MART, Chicago, the leading platform for commercial space design, as show management announces a power-list of thought-provoking speakers, dynamic activations, best-in-class brands, and the newest movers and shakers impacting the built environment. The three-day event offers unparalleled opportunities to connect, learn, and experience the latest trends and innovations across verticals, from office to healthcare. Attendees, who hail from large enterprise companies to design professionals representing markets ranging from Workplace, Healthcare, Hospitality, Retail, Real Estate, Education, Public Space, and Government can register now.
Building on the momentum leading up to the show, THE MART has reported brisk leasing activity throughout 2023 and into the first month of 2024, underscoring the building’s value as an important year-round destination and a source for design discovery. “We have completed 66 lease transactions for a total of 174,000 square feet. Notably, 45 of those transactions were within the contract industry — 17 of them new showroom spaces, including Bulo, Nevins, Fomcore, Akkouo by Sedia Systems and Ergocentric. This achievement sets the tone for a robust show this coming June,” says Byron Morton, vice president and co-head of leasing.
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Demonstrating a commitment to perpetual growth and adaptability, Versteel introduces Troupe Seating as the latest addition to its award-winning Troupe family. This collection of stools and benches encompasses versatility, quality craftsmanship and a contemporary aesthetic, ensuring that Troupe remains a dynamic force in the contract furniture industry.
First launched by Versteel in 2022, Troupe was designed to be marketable and functional in a variety of settings and takes its name from the definition of the word, Troupe – a group or grouping that typically travels together. True to its name, the collection unfolds as a family of solutions designed to complement each other in diverse environments. Troupe Seating now joins the existing collection of Gathering and Inline tables, fostering creativity and engagement while elevating the overall ambiance of its space. Troupe’s initial offering of Gathering tables won Interior Design’s 2022 Best of Year Award in the Conference Table category.
Influenced by the process of forging and shaping metal, along with a strong history of steel craftsmanship, Troupe was exclusively designed for Versteel by Qdesign as a family of design and function-focused products for working and learning environments.
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This week's Featured Book from FMLink's Books section is from the OSHA Safety category. This collection of peer-reviewed books has been curated by the editorial team at FMLink to provide facilities, engineering and A&D professionals with access to publications relating to the OSHA Safety topic.
Help reduce risks to power systems with the 2022 edition of NFPA 110, Standard for Emergency and Standby Power Systems. Provide backup power systems users can trust and help protect people and property by using the updated requirements in NFPA 110, Standard for Emergency and Standby Power Systems. Readiness of emergency power in the case of disruption of the normal utility supply is a vital consideration in safeguarding building occupants. Unfortunately, poor installation, planning, and maintenance practices are all common causes of emergency power supply system (EPSS) failure.
Improve occupant safety and help ensure systems are correctly installed, tested, and maintained.
This and other OSHA Safety titles are now available for purchase on FMLink.
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Ware Malcomb, an award-winning international design firm, recently announced that construction is complete on 20430 & 20440 Century Boulevard, two office buildings converted to a cGMP-ready white box facility and state-of-the-art lab facility respectively, located in Rock Creek’s four-building Precision Labs campus in Germantown, MD. Ware Malcomb provided lab planning, site design, and interior architecture and design services for the buildings, encompassing approximately 32,000 and 52,000 square feet, respectively. The project was recognized as the winner of the NAIOP DC | MD Design Excellence Award for Best Life Science Facility.
Located off I-270, the buildings are within one of the largest life sciences clusters in the country and a showcase for creative repositioning of office property. The campus is owned by Rock Creek Property Group, a Bethesda, MD-based real estate investment and development company with a diverse portfolio of commercial and residential properties.
Ware Malcomb’s Science & Technology studio worked in tandem with their Interior Architecture & Design and Site Planning studios in completing the project. Converting the two buildings into move-in ready speculative BSL-2 lab suites and cGMP-ready space represented a complex adaptive reuse effort as the buildings were originally constructed as office space. Of particular focus were enhancements to the buildings’ electrical, mechanical and wastewater infrastructure while maintaining consistency with the site’s original zoning.
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