Development of new medical facilities could be picking up again this year, and three of the developers at our Atlanta 2016 Healthcare Leadership Forum gave us info on major developments in the pipeline.
Ackerman Medical's John Willig (on right with Caddis' Jason Signor) let slip the firm is in talks with an unnamed hospital system to develop a 100k-plus SF medical office somewhere in Metro Atlanta. He said the health system sought out Ackerman given the firm's long-standing relationships with independent physicians and medical groups who could lease in the new facility. John declined to provide any additional details.
Eastwood Real Estate Services helped broker a land play for Southern Crescent Family Practice in Forest Park. The physician practice—headed by Dr. Faith Andrews—secured a site for a new primary care facility, Eastwood CEO Christine Gorham said.
Eastwood also helped broker a land buy for a dental group in Douglasville for a new clinic. She tells our audience of more than 150 industry pros that medical groups have been focused on retail leasing. “They want to be front and center. They want their name plastered on the sign. They want you to see their name five times before you walk into the front door,” she said.
Meadows & Ohly CEO Tom Rhodes (on right with Physicians Realty Trust's John Thomas) said the last few years development through hospitals has been a little slow. He said healthcare systems had been focused on expanding IT, acquiring physician practices and consolidation as the industry digested the Affordable Healthcare Act.
Now, capital dollars are again looking to flow to real estate expansion. For Meadows & Ohly, that means breaking ground on four new hospital-affiliated projects versus just one last year, led by WellStar Health's banner 162k SF Vinings Health Park campus. Other projects for Meadows & Ohly are in Charlotte, South Georgia and Florida, Tom said.
WellStar's Vinings project is a prime example of a growing trend where healthcare providers are lumping and consolidating all forms of specialists into a single building or campus, said HealthAmerica Realty Group's Leo Griffin, here with DTSpade's Bryant Cornett during our coffee schmooze at the St. Regis yesterday. He says WellStar is placing the campus in the heart of an affluent Cobb County community right near Walton High School. “Demographics are key. Accessibility is key,” Leo said.
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