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IT'S ABOUT MEDICAL

WASHINGTON DC 09.14.2017

7TH ANNUAL FUTURE OF PRINCE GEORGE'S COUNTY

Exclusive Bisnow Cocktail Hour to Follow Panels!

Jane Cafritz -- Calvin Cafritz Enterprises
Steve Schwat -- Urban Investment Partners (UIP)
Angela Patel -- TripleStone
IT'S ABOUT MEDICAL
Demand for MOB space is being driven by talk of a some federal health care plan (wait 'til cable news gets word of this) and a glut of aging Boomers. As much as 60M SF will be needed across the country, but we're told the western 'burbs will be ready for it.
 
Affinity Healthcare's Mitch Greenberg has teamed up with Stage Equity Partners Brian Howard

Affinity Healthcare's Mitch Greenberg has teamed with Stage Equity Partners Brian Howard to outfit a 50k-SF, two-story former office building in Downers Grove into an outpatient care center.

We snapped them on one of the empty floors at 1001 W. 31st last week. (We say forget the build-out and make it the world's largest exam room.) The previous tenant moved out late in '09 and the team is marketing the two 20k-SF floors and the 10k-SF ground level to one or multiple health care tenants. The building is visible from I-88 as well as Good Samaritan Hospital, and has signage for an anchor tenant. And no, your health insurance won't cover the build-out, though Mitch says it'll take as little as three months.

Affinity Healthcare's Mitch Greenberg has teamed up with Stage Equity Partners Brian Howard
A CBRE survey reports that 55% of MOB investors and developers think demand  will be higher this year than last, with the highest demand in Class-B, off-campus facilities. The Downers Grove building now has a flat parking lot that Mitch and Brian are planning on making into a garage, which will eliminate these stairs in front of the building. (Meaning this photo will be a collector's item. Call eBay.) The 22-year-old structure is the largest contiguous vacant space within a mile of Good Samaritan, and also has good access to Elmhurst  and  Central DuPage Hospitals, Mitch says.