2017 Healthcare Real Estate Content from The Tenant Advisor

Here is a summary with links to my top healthcare real estate posts for 2017:

Healthcare Has Unique Real Estate Needs

As the delivery of healthcare in the United States and around the world continues to evolve, the real estate needs of healthcare providers become increasingly complex. Trends and industry changes require users and investors of healthcare real estate to make challenging decisions. Colliers International has a team of real estate experts dedicated to the healthcare industry that can identify, analyze, advise and provide solutions for any challenging real estate decision… read the full article

A Healthy Year for Medical Office Buildings Sales in Houston

The medical real estate sector is seeing increasing levels of transaction activity. Nationally, medical office building (MOB) sales were at record levels through the first three quarters of 2017 and Houston remains a major healthcare real estate market on the radar of healthcare real estate investors including publicly traded REIT’s and private equity investors. The Houston healthcare sector has been resilient despite the energy downturn of recent years and is projected to add 8,000 healthcare jobs in 2018. Colliers International…read the full article

Are There Too Many Free-Standing ER’s in Texas?

In October of 2015, I posted an article titled, “Texas is the Epicenter of the Free-Standing Emergency Department Phenomenon.” The premise of the article was to discuss the proliferation of free-standing emergency facilities in Texas. There are an estimated 400-500 free-standing emergency facilities (FEC’s) in the United States and over 200 are located in Texas. In Texas, free-standing emergency centers are clustered around major metropolitan areas such as Houston, Dallas-Fort Worth, San Antonio… read the full article

The Rise of Urgent Care

Consumer demands for more convenient healthcare is driving a shift in the real estate strategies of health care providers. This includes moving to what is perceived as more convenient locations, which are increasingly in retail settings. Urgent care clinics are a response to the shift from inpatient to outpatient care and are a low-cost alternative to hospital emergency rooms, where escalating overhead costs and long wait times are the norm. The Urgent Care Centers industry represents one of the fastest… read the full article

Leasing Retail Space for Medical Use

Retail is undergoing a major shift as retailers increasingly vacate traditional brick and mortar locations in the era of e-commerce. As a result is has created opportunities for healthcare providers to secure space in highly visible shopping centers and retail buildings. Consumer demands are driving a shift in the mindset and strategies of health care providers. This includes moving to more convenient locations, which are often in retail settings. As the disciplines of healthcare property selection and retail real estate… read the full article

Medical Office Has Never Been This Hot

The healthcare sector is increasingly on the radar of institutional real estate investors as the amount of capital pouring into the medical office building sector is robust. The interest in medical office investment has steadily increased in recent years and appears to be intensifying based on the number of large medical office building portfolio sales announced so far in 2017.The Wall Street Journal reported yesterday that CBRE Global Investors has purchased a 95% stake in a portfolio of 25 medical office buildings… read the full article

Houston Methodist Hospital is the Top Owner of Healthcare Real Estate In Houston

Healthcare real estate research firm Revista has released an update to it’s List of Top 50 Healthcare Real Estate Owners in the United States. Houston Methodist Hospital is ranked the top owner of healthcare real estate in Houston with $4.2 billion in real estate assets which represented 12% growth year over year based on 2016 data. Houston Methodist ranked number 26 overall in the United States. Revista subscribers can access the full report with even more details by logging in at www.revistamed.com… read the full article

The Increasing Importance of Real Estate in Healthcare

Healthcare providers are dealing with a myriad of challenges in the face of softening admissions, changing consumer expectations about healthcare, tight operating margins, shrinking budgets and shifting policies. While facing these challenges many health systems are looking to expand their access points to capture more patients and drive referrals. This translates into a more distributed real estate footprint with a goal to bring convenient access closer to patients driven by advancements in technology… read the full article

Retail Dimensions of Healthcare Part 1

The world of retail today is all about adapting to the rapidly evolving needs of consumers. Now, other industries are beginning to adopt the retail mindset — both in terms of developing a responsive, customer-centric approach and a retail-centered location strategy. Health care is one of the primary frontiers for this kind of “retailization.”.In partnership with Colliers International National Director, Retail Services | USA Anjee Solanki, we have created the first installment of a two-part Retail Dimensions of Health Care… read the full article

Houston Methodist Woodlands Hospital Campus Opens

Houston Methodist is set to open its new 187 bed hospital campus in The Woodlands on July 1st concluding a three year construction schedule. The project for me personally began over 5 years ago when our long-time client Houston Methodist Hospital sent me to the Woodlands to begin a preliminary site search for a new hospital campus. In addition to the 59 acre primary parcel acquisition, the assignment also included the acquisition of the 41,000 square foot adjacent shopping center and several contiguous… read the full article

A Healthcare Boom in Houston and Texas

A healthy economy and rapidly expanding population is driving a wave of healthcare real estate development in the Lone Star State. Texas has the second-largest pipeline for healthcare real estate construction (hospitals and medical office buildings) in the nation at $15.8 billion, second only to California with $16.5 billion, according to medical real estate data firm Revista. Texas alone accounts for 14.5% of the total 109.4 billion square feet of healthcare construction projects nationwide… read the full article

Houston Healthcare Market Report

When writing about the healthcare-property market in the greater Houston area, the first thing we must acknowledge is that Houston is home to the Texas Medical Center (“TMC”), the world’s largest medical center and the eighth largest business district in the U.S. With that comes 50 million developed square feet in the TMC alone, plus additional hospitals and outpatient centers spread throughout the far-reaching suburbs that cater to nearly seven million people (as of last year). Currently the TMC is reporting… read the full article

Retail in the Healthcare Setting

In our two-part Retail Dimensions of Health Care Report, we explore the ways health care facilities are approaching location in retail and community settings, as well as the ways retailers are leasing space in hospitals and other medical properties. In Part I, we examine the factors driving the increased presence of health care in retail properties from three perspectives: those of the consumers, providers and landlords. The recently released Part II looks at the location of retail facilities in medical settings, with a focus … read the full article

The Prognosis for Houston’s Healthcare Sector is still Favorable

When most people associate an economic engine with the Houston economy, the energy industry is the first thing that comes to mind. Houston is without a doubt the “Energy Capital” of the world and also the home of NASA’s Johnson Space Center and The Port of Houston, one of the nation’s key ports. Lesser known too many outside the city of Houston is the Texas Medical Center, the world’s largest concentration of expertise in medical treatment and care, medical research and medical technology… read the full article

Duke Realty Confirms Sale of MOB Portfolio

Ending weeks of speculation, Duke Realty is exiting the Medical Office Building Sector and has agreed to sell its remaining Medical Office Building portfolio to Scottsdale, Arizona-based Healthcare Trust of America, Inc. for $2.75 billion in cash. Healthcare Trust of America currently owns 12 properties in the Houston market totaling 874,000 square feet. The Duke portfolio includes 3 medical office buildings located on the Houston Methodist – St. Catherine Campus in Katy totaling 168,850 square feet… read the full article

$7.7 Billion in Outpatient Healthcare Development Completed in 2016

A total of 35.7 million square feet of medical office buildings (MOBs) and other outpatient projects were started or completed last year, according to a newly released survey from Revista in collaboration with Healthcare Real Estate Insights. In the first independently verified research project to look exclusively at outpatient medical real estate development, the survey reveals projects totaling nearly $7.7 billion in construction value and 19.4 million square feet were completed in 2016. Another 17.3 million square feet… read the full article

2017 Healthcare Real Estate Report

We are pleased to share Colliers International’s 2017 Health Care Marketplace Report, which shows that 2016 was a year of expansion for health care real estate in the United States. As 2017 gets underway, health care providers and health system owners are facing a variety of considerations that could impact their businesses and real estate strategies. Despite the uncertainty surrounding the Affordable Care Act and rising costs in every facet of the industry, health care real estate fundamentals remain solid… read the full report

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