Health care-related real estate changing

Tim Whitney

The Affordable Care Act and the general need for convenience in accessing health care services have changed how some providers view the modern medical office space.

A decade since the federal legislation was enacted, many health care professionals and diagnostic centers have ditched their old-fashioned, sterile-looking office setups for flashier and, more important, conveniently located spaces. In many cases, these spaces are located in retail centers and regional malls.

Major drug store chains and even some grocery stores operate in-store clinics where customers can get a flu shot, have their prescriptions filled or even receive treatments for minor ailments.

These new levels of accommodations in health care has shifted the paradigm.  Because this trend will only continue to grow, shopping center owners are taking advantage of this opportunity to fill empty spaces once leased by more traditional tenants.

With the recent outbreak of the coronavirus, there are even plans for a public-private partnership to take advantage of pharmacy drive-through lanes at major chain drugstores to offer convenient and efficient testing for the virus. These organizations are working closely with the Trump administration to implement this service. What will initially be offered in select markets could eventually expand nationwide.

No one knows how long this health care crisis will last. But you can expect the commercial real estate market to adapt to changing times to assure health care services become more convenient and readily available for customers.