Share these talks and lectures with your colleagues
Invite colleaguesPractice paper
Navigating uncertainty: Strategies for effective medical office asset management amid economic headwinds
Corporate Real Estate Journal,
12
(3),
255-262
(2023)
Abstract
Pandemic-induced supply chain disruptions along with inflationary pressure on both operating and construction expenses have created new challenges for medical office asset and property managers, whose assets must remain operational in order to provide care to patients. This paper explores strategies and approaches designed to mitigate both risks and costs for building owners, their healthcare tenants and prospective tenants as they navigate these pressures and maintain their assets. The paper offers best practices focused on bidding and managing building services, mitigating risk of supply chain bottlenecks for critical building system repairs and commonly used consumables, adapting leasing strategies to address rising construction costs and scheduling delays, and communicating effectively with all asset stakeholders as they navigate these challenges and continue to deliver healthcare services.
Keywords: medical office; supply chain; inflation; asset management; property management
The full article is available to subscribers to the journal.
Author's Biography
Jennifer Seiler is Managing Director leading Cushman & Wakefield’s Healthcare Advisory Practice Asset Services teams nationwide, establishing best practices across the company’s portfolio of healthcare clients. She has helped to establish specialised teams and initiate key new assignments with various healthcare clients. She regularly serves as a resource to her asset management and brokerage colleagues within the Advisory Group. Jennifer previously served as the Account Manager for Cushman & Wakefield’s St Louis healthcare practice operations. In this role, she oversaw the team responsible for implementing day-to-day management and operations for BJC HealthCare and Washington University School of Medicine properties. She focused on coordinating portfolio services offered by Cushman & Wakefield to meet the client objectives for each property. Responsibilities consisted of an array of asset management functions including strategic planning, budget review and evaluation, lease negotiation and administration, supervision of and support to the property management staff and quality control functions. Since joining Cushman & Wakefield in 1997, Jennifer has served as a manager for a variety of product types. She was responsible for the overall financial and operating performance of a 600,000sq.ft Class A high-rise complex including parking structure in Clayton, MO. Other assignments included the management of retail centres, suburban office buildings and office warehouse centres. Jennifer also participated in the development of value enhancement programmes and tenant relation programmes for ownership. Before her current assignment, she was an Account Manager for a portfolio of office, retail, industrial and medical properties.
