With healthcare costs continuing to rise and the rapidly growing aging population, medical office space will continue to be in high demand through 2016 and beyond. It’s anticipated that investment in this industry will increase and the retail sector will continue to benefit as outpatient facilities look to lease in areas more convenient to their patients.
Low interest rates and stable tenants lend favorably for investors in the healthcare real estate industry. However, these factors combined with the aging demographic and effects of the Affordable Care Act (ACA) have also increased demand and competition for healthcare properties. These same factors also create some financial uncertainty as question still remain regarding exactly how the ACA and insurance will effect hospitals and healthcare systems that are being charged with reducing costs while increasing the quality of care.
Reducing costs is one factor that is also driving healthcare – particularly outpatient services – to retail centers. With the ACA increasing the number of insured and convenience continuing to drive consumer trends, more people are choosing their healthcare providers the same as traditional retail in terms of choice and cost. Medical providers are relocating to shopping centers to capitalize on foot traffic and retail health clinics are on the rise due to their ability to provide longer hours, shorter waits and onsite services such as a pharmacy.
McWhirter Realty Partners continues to follow healthcare trends and understands the context, challenges and opportunities faced by medical practices in this market. Plus, we have a strong history of working with healthcare systems and knowledge of medical office space availability and requirements throughout the metro Atlanta area.
Current leasing opportunities include six buildings in Decatur, Georgia, adjacent to Dekalb Medical with 14,000 SF currently available for lease. More information on the properties can be found here.
McWhirter Realty Partners understands the intricacies of site selection and entitlements to effectively guide decisions. If you have questions about healthcare real estate in the Atlanta area contact us today.