HSA PrimeCare Development Drexel Town Square Health Center Named HREI Insights Awards Finalist

Last week, HREI Insights announced the finalists of the 2018 HREI Insights Awards recognizing excellence in healthcare real estate development and executive leadership. Among the chosen facilities was HSA PrimeCare’s development, the Froedtert & the Medical College of Wisconsin Drexel Town Square Health Center in Oak Creek, Wisc., which celebrated its public opening in January.

The 109,000-square-foot state-of-the-art facility offers a wide spectrum of services including primary care, specialty care, urgent care, as well as an outpatient surgery center and full-service cancer center. An imaging center, lab, and retail pharmacy are also available onsite. The Froedtert & the MCW Drexel Town Square Health Center has been recognized for its innovative design features that create a calm, playful environment for patients. Since its completion, the project has received In Business Madison’s 11th Annual Commercial Design Award and has been recognized by the Daily Reporter as a Top Project of 2017.

In the HREI Insights category of Best New Medical Office Building and Other Outpatient Facilities 100,000 SF or More, the Froedtert & the MCW Drexel Town Square Health Center is one of five national finalists. HREI Insights will present the final awards at the RealShare Healthcare 2018 conference in Scottsdale, Ariz. on December 5th and 6th.

To view the complete lists of finalists in all categories, visit the HREI Insights website. For more information on the RealShare Healthcare 2018 conference, visit the GlobeSt.com event page.

VIDEO: Healthcare Real Estate Trends in 2018

In a video interview recently featured in Commercial Property Executive, HSA Commercial Real Estate Vice Chairman and CEO Bob Smietana offers insights on changes in the healthcare real estate landscape in 2018.

As the delivery of care model continues to evolve in healthcare, Bob expects to see continued growth and development of outpatient facilities in 2018.

“That [delivery of care] model has changed from going to a hospital campus, going to a large parking garage, and having your diagnostic tests done there and seeing your family doctor,” Smietana says in the video. “Healthcare is being delivered in convenient locations to the consumer now.”

Bob references the 109,000-square-foot Drexel Town Square Health Center in Oak Creek, Wis., which HSA PrimeCare developed in 2017 in partnership with Froedtert and the Medical College of Wisconsin, as an example of healthcare providers delivering institutional-quality care in neighborhood locations that are easily-accessible to their patient base. As Bob points out, some health systems are even opening clinics and specialty facilities in shopping centers to take advantage of the visibility, convenience, and synergy that traditional retail environments have to offer.

“[Medical facilities] are giving shopping centers a boost in terms of additional shopper traffic but also allowing diversity in the tenant space in the retail centers themselves,” Smietana adds.

Finally, Bob discusses the joint-venture fund that HSA PrimeCare formed with USAA insurance company to target “value-add existing healthcare real estate” and development opportunities in an 11-state territory across the Midwest. As Bob details in the video, the fund has already acquired four properties since its formation and is currently exploring a variety of new investment opportunities.

2018 is already shaping up to be a busy year for HSA PrimeCare, the national healthcare real estate division of HSA Commercial. Stay tuned to our website for announcements about new acquisitions and development projects!

To watch the entire video interview with Bob Smietana, please visit HSA Commercial’s YouTube page. Click here to read Commercial Property Executive’s coverage of the video.

HSA PrimeCare and USAA Real Estate Company Acquire 45,722 SF Medical Office Building in Plymouth, MN

The joint-venture equity fund established by USAA Real Estate and HSA PrimeCare, the national healthcare real estate division of Chicago-based HSA Commercial Real Estate, announced the acquisition of a 45,722 square-foot medical office building in Plymouth, Minnesota. The building is well-situated in the prominent western suburb of Minneapolis, within Plymouth’s City Center, which features abundant community amenities including an ice-skating arena, Lifetime Fitness, a movie theater, and other shopping, restaurants, and public services.

Built in 2014, this class-A medical building is anchored by North Clinic, a large, independent physician group that occupies the full first floor. With five locations and over 80 physicians, North Clinic is a leading primary care and women’s healthcare services provider in the market. Institute for Athletic Medicine, a joint-venture between North Memorial Health and Fairview Hospital, is another premier medical provider in the building. Institute for Athletic Medicine offers orthopedic and sports rehabilitation services.

“This building and location are highly strategic for North Clinic and offer prospective tenants new, high-quality medical office space near the leading primary care provider in the market,” said Jon Boley, senior vice president of Acquisitions and Development at HSA PrimeCare. “We’re looking forward to partnering with local healthcare providers and further expanding HSA PrimeCare’s healthcare real estate services into the Minneapolis market.”

HSA PrimeCare and USAA Real Estate announced the formation of its joint-venture equity fund in 2016, which is positioned to acquire and develop a broad range of healthcare facilities across an 11-state territory in the Midwest.

“Alongside our partner, HSA PrimeCare, we are proud to expand our portfolio in alliance with leading health systems and private practice providers in the region,” commented Len O’Donnell, president and chief executive officer of USAA Real Estate. “This acquisition is another representation of our ongoing strategy to capitalize on emerging opportunities in the healthcare industry.”

HSA PrimeCare will be jointly managing the building with Minneapolis-based, Frauenshuh Commercial Real Estate. Brian Bruggeman and Louis Suarez of Colliers International will be retained for leasing.

David Berglund of Colliers International represented the seller of the Plymouth medical office building in the sale transaction.

About HSA PrimeCare
HSA PrimeCare partners with some of the leading health care institutions in the nation to create development, project management, leasing, monetization, and property management real estate solutions that address the needs of today’s patients while satisfying the financial goals of the health system. A leading developer and manager of medical office buildings in the Midwest, HSA PrimeCare has developed, acquired, or serviced health care properties of more than 2,000,000 square feet. HSA PrimeCare is a division of Chicago-based HSA Commercial Real Estate, a diversified, full-service real estate firm specializing in office, industrial, retail and health care real estate leasing, management, marketing, development and financing on a national basis. For more information, please visit www.hsaprimecare.com.

About USAA Real Estate Company
USAA Real Estate Company, with approximately $18 billion in assets under management, provides co- investment, acquisition, build-to-suit and development services for corporate and institutional investors and arranges commercial mortgage loans on behalf of affiliates. The portfolio consists of office, industrial/logistics, multifamily, retail and hotel properties. USAA Real Estate Company is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit www.usrealco.com.