In the past, the lion's share of MOB development has been self developed by the hospital system or provider. In fact historically, third party development has only represented around a quarter of medical office square feet started. Since 2019, we've been seeing a shift in this dynamic with more and more projects moving forward with a developer/investor driving the project.
Despite the challenges this year with COVID-19, medical office projects continue to break ground. Interestingly, the proportion of 3rd party developed projects starting is increasing as the year progresses.