News
No Minor Deals
October 17, 2012
| A small deal can make a big difference, like the 9,800 SF urgent care center that HSA PrimeCare developed for Loyola’s Gottlieb Memorial Hospital in River Forest. HSA PrimeCare prez John Wilson tells us the new facility enables Loyola to enter a prized market. Hear more from John at Bisnow’s National Healthcare Summit, Nov. 8-9, Radisson Blu Hotel, Chicago. Register now! | ||
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| The development of satellite facilities and outpatient clinics reflects changes in the healthcare industry. Providers are reaching out to the growing number of older patients and responding to their preference (and the profession’s ability) to do an increasing number of procedures outside of hospitals. Also, with healthcare reform and the lower reimbursements that it requires for providers, healthcare professionals realize they must change how they practice. John says whether the law is kept in place, altered, or repealed, as far as providers are concerned “that train has left the station.” | ||
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| The River Forest facility, opened earlier this year, gives Loyola a daily presence in a new, affluent market that’s just two miles due east of Gottlieb Memorial Hopsital and integral to its long-term growth strategy. After the ’08 downturn, the site became available. HSA PrimeCare purchased it, then designed and entitled the project that it leased to the hospital, John recalls. Overall, he says, land costs that fell during the recession are popping up a bit in some areas. Construction costs are still relatively stable except those reliant on petroleum-based products like asphalt and roofing. Rents that fell from 5% to 10% for three years, have stabilized and some are creeping up. | ||
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