High-End Healthcare Is Hot And Poised For Development Explosion
E-commerce companies, with their convenience, ever-increasing delivery speeds and broad inventory, have outcompeted a number of conventional brick-and-mortar establishments, creating negative absorption in the asset class and opportunity for innovative new tenants.
Some retailers can adapt by emphasizing experience and services unavailable online. These two tenets are inherently important in the healthcare industry, which is transforming retail spaces into concierge centers in and around New York City. This budding trend is especially prevalent on Long Island, and, more generally, in suburban areas.
“The trends are shifting from a bank or retail store on the corner of every strip mall to an urgent care on the corner of every strip mall,” Talisen Construction CEO Joseph Rigazio said at the Bisnow State of the Long Island Market in July.
Americans spent $3.2 trillion (over one-sixth of the U.S.' gross domestic product) on healthcare in 2015, more than any other country. All major pharmacy store chains have started to integrate urgent care offerings, merging retail and healthcare under one roof. Upscale healthcare centers, meanwhile, are similarly combining high-end retail elements to create a luxurious, highly personalized and spa-like experience. They boast on-demand treatment with minimal wait times, are staffed by the best doctors and have access to the resources of their large parent healthcare networks so they can provide fast care for a range of symptoms and illnesses.
Three of Talisen’s recent healthcare projects exemplify the shift from serviceable to standout.
Island Eye Surgicenter
Talisen built a 27K SF facility for this eye surgery center at 1500 Jericho Turnpike in Westbury, New York. The team of leading ophthalmologists outgrew its nearby space and engaged Talisen’s team to install a comfortable waiting room, sanitation, processing, pharmacy and six operating rooms for this build-to-suit.
Talisen and Hardaway Sziabowski Architects maintained a warm, customer-centric ethos, using carefully chosen design elements like the fireplace and vaulted ceilings with wood beams found in the waiting room.
Northwell Health
The new Northwell Care Solutions office, at 600 Community Drive, challenged Talisen to deliver a functional space commensurate with the caliber of the reputable and pioneering healthcare network in just 16 weeks. For the extensive renovation, Talisen partnered with DaSilva Architects to add a reception area, conference lounge and three restrooms while refreshing the kitchenettes, pantries, storage areas and elevator banks.
Mt. Sinai/Medeast
Mt. Sinai and Medeast partnered with the mission of introducing premier healthcare to NYC. The venture recently enlisted MP Interior Design and Talisen to expand to 255 Greenwich St., which straddles the Financial District and Tribeca. The project necessitated the installation of delicate and extremely expensive equipment, tempered by handcrafted carpentry details that make high net worth clients feel at home. The space has a serene and spa-like atmosphere to set patients at ease.
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