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April 28, 2010
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MED SCHOOL
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| Announcing our next New Washington: Internet and sports mogul Ted Leonsis and SAIC CEO Walt Havenstein, May 11, Tysons Ritz Carlton. All attendees will receive a copy of Ted's new book, which he will hang around to sign. More info. |
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| 360 of you poured your way (with the help of lots of parking meter quarters) into the colorful and cavernous Bethesda Theatre for a healthcare real estate summit that spanned the philosophical to nitty gritty. All agreed it’s a highly specialized niche that offers both great challenges and opportunities. |
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| Adventist HealthCare CEO Bill Robertson, left, runs the largest private employer in Montgomery County; Inova Health Care CEO Knox Singleton, runs one of the biggest in the region. Moderator (and medical real estate expert) Jim Kornick of NorthMarq drew them out on dramatic changes they welcome or will have to work around. The good news about health reform, Knox asked? "Nothing will happen in the first 2-3 years." The bad? "Everything that’s going to happen is going to be bad." (He emphasized he was speaking of the economics, not the policy.) Costs for expanded coverage, he said, will be picked up by new taxes and higher costs, putting the onus on healthcare providers to make the numbers work. Bill noted that the bill also brings “no added capacity” to train physicians to meet demand. On top of it all, the demographics of medicine are changing. Bill says younger physicians are shying away from solo practice and seeking larger practices. The real estate implications: changing configurations of desired offices. |
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Our second panel of gurus included Ballard Spahr partner (and former US Buildings commish) Dave Winstead, Charles L. Feitel Co. president Chuck Feitel, Foulger-Pratt president Cameron Pratt, and Trammell Crow principal Eric Fischer. Chuck emphasized the complexities and expenses of developing and leasing medical space; Cameron gave numerous examples of operating differences like needing dramatically more parking and cleaning services; Eric talked of the unique design issues, but added he’s seen significant market improvement recently due to increased liquidity and intrigued private investors.
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| The OTJ crew: healthcare biz dev manager Julie Owens, biz dev director Laura Kennington, customer outreach manager (and our old friend) Steve Mutty, and senior medical project manager Elizabeth Adams. OTJ has executed projects for Anne Arundel Medical Center, Children’s Hospital, Prince William Hospital, Virginia Hospital Center, and Washington Hospital Center. It's now doing a complete interior and exterior renovation with medical suite improvements for the Fairfax Medical Center with NY-based developer Gyrodyne. Have a project for them? Ping Laura. |
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| Scott-Long Construction’s Rick Compton, Troy Maynor, and Steve Straub, HOK’s Robert Salas, Allen & Shariff’s Bob Rasmussen, and Scott-Long’s Katie O’Leary. Rick tells us that Scott-Long has maintained partnerships with four area hospitals, including Inova Fairfax, where it has been since 1989. Those relationships have kept the firms med office work steady. Bob (Rasmussen) says the downturn caused most large healthcare institutions to cut back on growth plans, but the past couple months he’s seen a turnaround. “ |
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We always wondered what it would be like to make it on Broadway. We still don’t know but at least we made it to a marquee on Wisconsin Avenue.
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| First Citizens Bank’s Greg Pickett, Kramer Consulting’s Pat Barnhart, and First Citizens’ Mike Wesson get their caffeine on. Greg tells us his bank specializes in medical/dental spaces but for now the action is in a holding pattern (in part to see the effect of the healthcare bill). Pat says many are looking for somebody to release money to get the med office party re-started. |
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We intercepted OTJ’s Catherine Diehl and Office Mover’s Inc.’s Joy Newton-Grubb on their way to their seats. Joy says the market didn’t so much fall off as just turn into a giant roller coaster. “There’s business there, you just have to find it,” she tells us. “You have to be able to reinvent yourself.”
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| Maybe some of the crowd thought they were coming to see Defending the Caveman (which has played here). |
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| YESTERDAY AT NOVA NAIOP |
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| Yesterday at NAIOP NoVa’s’s lunch at the McLean Hilton, we snapped Dulles Gateway Associates owner Chris Antigone catching up with VA gov Bob McDonnell, as chapter prez Martha Marks looks on. We assume he's handing him a petition to declare tomorrow National Snappy E-Newsletter Day. |
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| An hour later, we snapped Northrop Grumman CEO Wes Bush with the Gov at a press conference in Rosslyn. No, they didn’t spill the beans on the exact location Northrop will choose (it claims not to know for sure yet), but did indicate they’re negotiating in both Arlington and Falls Church. The 300 person HQ is supposed to be in place by summer 2011, and Wes summed it up by saying Northrop “takes milestones very seriously.” Meanwhile, the governor said the economic impact of such a move would offset the incentive package of $12 million to $15 million in less than five years. |
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| UPCOMING EVENTS |
| Click here to place your own listing |
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May 04 - Arlington Economic Development - Forum on Sustainable Business Practices. Did you know that you can reduce costs by up to 30 percent? Featured speakers: Arlington County Board Chairman Jay Fisette, EPA's Jerry Lawson, Strategic Sustainability Consulting's Jennifer Woofter, SBA's Bridget Bean, SBA; Arbour Realty's Adam Gallegos, and EcoAlign's Andrea Fabbri, EcoAlign. Clarendon Ball Room. 7:30am-noon. Info
May 07 - University of Maryland, Colvin Institute of Real Estate Development - Senior Housing Design and Development: Spring Symposium and Site Tours. May 7 - 9, 2010. Info
May 11 - Bisnow New Washington - Ted Leonsis and Walt Havenstein. See shoutout above.
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This newsletter is a journalistic news source which accepts no payment for featured interviews. It is supported by conventional advertisers clearly identified in the right hand column. You have been selected to receive it either through prior contact or professional association. If you have received it in error, please accept our apologies and unsubscribe at bottom of the newsletter. Copyright 2010, Bisnow on Business, Inc., 1323 Connecticut Avenue, NW, Washington, DC 20036. All rights reserved.
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