LAS VEGAS—“Medical uses are now focused on higher profile shopping centers.” So said Los Angeles-based Ed Sachse, executive managing director with Kennedy Wilson's brokerage group, at ICSC's RECon event. “Urgent care centers in particular provide local services for walk-in patients.”
With the rapid changing landscape of medical care, the urgent care centers will fill the community needs for quick and affordable medical care, Sachse tells GlobeSt.com. “They will become a more popular part of tenant mix for neighborhood centers.”
And mixing this tenant service into a retail format brings a number of benefits, he explains. “A medical tenant typically has a stronger credit profile since they invest heavily in their improvements, and they traditionally seek longer lease terms,” Sachse says.
He points out that the medical tenant “can occupy more destination oriented space in the shopping center.” In addition, he says, “the average visit is much shorter than a standard medical use, thus, parking turns quickly.”
With urgent care centers interested in spaces between 1,500 square feet to 3,500 square feet, Sachse notes that “they can fill a nice gap for service providers in neighborhood centers.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
