As the commercial real estate market limps along in the midst of a global recession, some investors say they believe that at least one sector — medical office buildings — might serve as a crutch, as it has in past economic downturns.
“There certainly are investors who want this type of property in their portfolio,” said Dan Fasulo, a managing director at Real Capital Analytics. “It’s kind of a recession-proof bet, if you will. We did have a spike in activity for these properties in the last slowdown in 2002 and 2003.”