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Big Expansion Underway in Healthcare Real Estate

Providers are under pressure to cut costs and boost efficiency, and most need new facilities near their patients.

By Brian J. Rogal | Updated on January 30, 2018

chi-oakcreek The new 109,000-square foot Drexel Town Square Health Center is an outpatient and diagnostic center in Oak Creek, WI, that allows its sponsors to deliver healthcare close to where patients live.

CHICAGO—The US healthcare market has been roiled by changes in the past few years, and that has created many opportunities for real estate developers. The expansion of health insurance brought in more patients, but the drive to cut costs and boost efficiency is also transforming the provision of care.

According to Bob Smietana, chief executive officer of HSA Commercial Real Estate, the old model of big, centralized hospital campuses is probably gone, and providers now need whole new sets of facilities, a process still in its beginning stages.

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