CHP and HSG successfully repurpose a former L.A. Fitness facility
By John B. Mugford
The Advocate Health Care Cardiovascular ASTC & Outpatient Center was sold directly to Advocate Health. (Photo courtesy of HSG)
As the costs of developing new healthcare real estate (HRE) facilities and medical outpatient buildings (MOBs) continue to soar, many developers and investors are looking at the possibility of repurposing other property types into medical.
It’s a great idea on the surface, many HRE professionals say, as a successful project can provide better speed to market and, in many cases, save costs.
However, as many HRE professionals also say, not every building out there can be repurposed to a medical facility, as many buildings do have mechanical, electrical and plumbing constraints, many do not meet the regulatory and code compliances to be converted to medical, many buildings do not have the correct floorplate sizes and proper ceiling heights, and, as is often the case, many buildings lack adequate parking and drop-off areas for patient, among a host of other reasons.
And yet, when a developer does find a conversion-worthy facility, as noted, such a project can prove to be quite successful.
That would indeed be the case with
The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE
