Medical Services Cure For Struggling Shopping Centers
Health-care facilities may just be the cure for what ails many a struggling shopping center. The medical services industry is undergoing a paradigm change with regard to the way services are delivered and health-care providers are more eager than ever to get in front of shoppers. At the same time, more consumers than ever are receiving healthcare coverage, providing a strong source of traffic for shopping centers with medical tenants.
But it’s not always an easy fit. Medical centers are not the perfect solution for all shopping centers and, for a landlord, negotiating with health-care tenants presents special challenges. For example, build-out costs for a medical space are significantly higher than for the typical retail tenant. And most deals, particularly for larger clinics, require a long-term commitment to offset the higher costs. Parking for patients, especially during peak holiday shopping, has to be considered too. This SCTLive webinar will allow you to hear from shopping center landlords and health-care system executives about the benefits of this tenant category and the best ways to bring them into your properties.
Source: ICSC, October 7th, 2013