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!