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     Healthcare Real Estate Post-Seminar Wrap
 



 
  Texas Healthcare Real Estate 2015 Post Event Wrap Up, October 6, 2015, Houston, TX

Reported by Ralph Bivins, Editor of RealtyNewsReport (realtynewsreport.com)
 

Left to Right:
-Sid Sanders, Senior VP Facilities & Construction, Houston Methodist Hospital
-Jill Pearsall, Assistant Vice President of Facilities Planning & Development, Texas Children's Hospital
-Marshall Heins, Chief Facilities Services Officer, Memorial Hermann Health System

The healthcare construction boom in Houston’s suburbs is going to slow down somewhat as medical organizations’ building programs have caught up with city’s population expansion.

“I think construction is slowing,” says Marshall Heins, chief facilities service officer of Memorial Hermann Health System, which is building or has recently completed a number of major suburban hospitals. “We’re probably going to stand pat on building.” Heins told the audience that growth could continue to sustain some degree of future construction.

However, it appears this wave of suburban medical construction is winding down. Some $3 billion of medical related construction is under construction in the Houston area, according to Coy Davidson, Senior VP of Colliers International.

“You will see a significant drop off in about 3 years when things that are under construction are finished,” says Sid Sanders, senior vice president, facilities and construction Houston Methodist Hospital.

Construction costs have been high, Heins says, because so many office buildings, apartments and other commercial projects have been built in Houston in recent years, which pushed up construction costs.

The expansion in Houston area petrochemical plants is significant and that trend may apply upward pressure on construction costs and provide economic stimulus that creates demand for medical facilities.

Tod Fetherling, founder Perception Health, a demographic and medical site selection consultant based in Nashville, says some submarkets in Houston offer opportunity for new medical development. Three exceptionally promising zip codes are ZIP code 77073 - west of Bush Airport; the Richmond area - west of Houston and ZIP code 77007 - west of downtown, Fetherling says.

But finding appropriate real estate in the right location is not an easy process because the space is not abundant, says Jill Pearsall, assistant vice president of facilities planning and development Texas Children’s Hospital. Texas Children’s has considered build-to-suits and other deal structures to provide the right building in the right place, Pearsall said.


Snap Shot of Three Primary Types of Clientele That Healthcare Providers Must Attract

Up and Coming Families is a market in transition – residents are younger and more mobile than previous generation…..they are ambitious, working hard to get ahead, and willing to take some risks to get ahead… their homes are new. Their families are young. Optimistic even though recession affected their financial well-being. One of fastest growing markets in U.S.

Metro Renters are highly mobile and educated…. They live close to their jobs, and they walk or take taxi get around the city. They are willing to take risks and work long hours to get to the top of their professions.

Laptops and Lattes Residents are predominantly single, well educated professionals in business, finance, legal, and computer and entertainment occupations. Affluent and partial to city living and its amenities. They are health conscious consumers who exercise regularly and pay attention to nutritional value of food they purchase.

From “Mining Demographic Data to Produce Gold in Healthcare Real Estate” Presentation by Tod Fetherling, CEO of Perception Health


Healthcare Real Estate Development & Leasing Trends


 

 

 

 

 

 

 

 

 

 

 

 

Left to Right:
-The Developer/Investor: Davis Griffin, Principal, Trammell Crow Company
-The Health System: Scott Knode, Vice President of Real Estate, Houston Methodist
-The Real Estate Consultant/Broker: Nelson Udstuen Vice President/Health Services Group, CBRE
-The Attorney: Kent Newsome, Shareholder & Chair of Texas Real Estate Practice, Greenberg Traurig




Coy Davidson, Senior Vice President/Healthcare & Office, Colliers International

“Texas is considered the epicenter of the free standing emergency department trend with 400+ locations”

“As population growth occurs in outer-ring suburbs located off interstate highway loop systems, the increase in population can support the FED, which can become a feeder for the major urban medical center”

“Hospital Systems are aggressively recruiting physicians driving leasing activity particularly in suburban markets”

“While medical office buildings on or near hospital campuses are still very much in demand, primary care and urgent care clinics are quickly popping up in fast-growing suburban areas located in shopping centers or freestanding pad sites”

A health system has better credit than a 3-4 person physician practice, and as a result can get better rental terms”

“Physicians want to spend money on equipment, not rent or TIs. Patients perception of provider is tied to the lobby, exam room, and quality of equipment”

“More procedures are being done in a clinic or physician’s office that used to be done exclusively in a hospital (resulting in more complex leases or master lease agreements)”


Reimagining Outpatient Care Facilities for Future

     
The Architect: Kurt Neubek, CFM, EDAC, FAIA, Principal at Page Southerland Page   The Contractor: Emre Ozcan, Senior Vice President - Houston General Manager, JE Dunn Construction   Modular Interiors: Eric Koffler, Co-Director of Healthcare, DIRTT Environmental Solutions  




The Healthcare Provider (on the left): Nicholas Ro, VP of Strategic & Legal Affairs, Kelsey-Seybold Clinic