Healthcare REIT’s Unlikely New Properties
Healthcare REIT SVP Mike Noto (snapped surrounded by family) reports that competition among healthcare systems has ramped up and the results are mushrooming in unusual places. One important method of defense is winning the loyalty of the soldiers (in this case, physicians). Technology allows folks to be treated as outpatients, with clinical services located in malls and other retail spaces (like former Blockbusters and Borders). Physical therapy practices are hopping on this treadmill, as are patients’ relatives who find shopping in the mall preferable to thumbing through a magazine in the waiting room. Both retailers and hospitals are grateful for the increased traffic, while hospitals also like the high visibility and big signage. The old cliche works every time: location, location, location. And Mike says docs are on board for this new frontier. For more info on our sponsor, click here.
