Outpatient Projects: MOB in Aliso Viejo to be eco-friendly
20,000 SF PROJECT WOULD ADD TO MARKET WITH 7.8 PERCENT MOB VACANCY RATE By John Mugford The only medical office building currently being planned in Aliso Viejo, Calif., located in Orange County, is a two-story, 20,000 square foot facility called Two Journey Medical Plaza. The project, which is being billed as “eco-friendly,” received city approval […]
Inpatient Projects: $430M replacement starts east of L.A.
KAISER’S FONTANA HOSPITAL BEING BUILT TO MEET TOUGHER QUAKE GUIDELINES By John Mugford Kaiser Permanente recently began construction on a new 314-bed replacement hospital in Fontana, Calif., located about 25 miles east of Los Angeles. A groundbreaking was held in May for the new hospital, which would have 481,000 square feet of space and be […]
Capital Markets Snapshot: Not out of the woods, but near bottom
CAPITAL MARKET CONDITIONS ARE BECOMING MORE CONSISTENT WITH HISTORY While we are not yet out of the woods, the consensus view is that we are near or at the bottom of this severe economic contraction. Most economists eschew the prospects of a V-shaped recovery but foresee very slow improvement from the newly established base level […]
Market Focus: Bucking the recession
HEALTHCARE HELPS KEEP SAN ANTONIO HUMMING By John Mugford What recession? Sure, there are signs that the weak economy is affecting San Antonio, as most business people in SA-Town will tell you. For example, the construction of speculative general office buildings has slowed considerably, and probably will continue to be slow until demand catches up […]
Special Report: Proceed with caution
WHAT CONSTITUTES A ‘GOOD’ DEAL IN THIS MARKET? By Murray W. Wolf In this difficult economy, deal-hungry healthcare real estate developers and investors might be tempted to consider just about any opportunity that comes down the pike. But that makes it all the more important for them to remain objective and disciplined, and to temper […]
Industry Pulse: June 2009
SAN FRANCISCO – Healthcare Real Estate Insights™ recently had an interesting conversation with the president of the New Century Healthcare Institute, which is based in San Francisco. Wanda Jones, often referred to as a healthcare futurist, is currently advocating a plan for rebuilding the state’s healthcare facilities that goes against the current conventional wisdom. As […]
Editor’s Letter: The ‘greatest’ time
DEALS HAVE DWINDLED, BUT IS A BOOM AHEAD? By John B. Mugford Dear Reader: You might have turned to Page 3 of this month’s publication only to find that someone stole our Transactions report. Actually, for the first time since the founding of our newsletter – or at least as far as we can remember […]
Special Report: Lillibridge foresees monetization boom
‘THIS IS THE GREATEST TIME IN THE HISTORY OF THIS BUSINESS,’ HE CONTENDS By Murray W. Wolf Medical office building (MOB) sales sank to about $180 million during the first quarter (Q1) of this year – barely a tenth of the total during the market’s historic peak of $1.61 billion during Q1 2007. Credit remains […]
Special Focus: Stressed office owners look to medical
BUT REPOSITIONING AN ORDINARY BUILDING AS AN MOB ISN’T EASY, EXPERTS WARN By Murray W. Wolf Mainstream office vacancy rates are rising at a time when medical office space is largely holding its own. This has prompted some traditional office landlords to consider the idea of repositioning their assets as medical office buildings (MOBs). But […]
Marketing & Leasing: Brokers get creative as leasing slows
INTERFACE MEDICAL OFFICE SEMINAR PANELISTS SHARE ADVICE, OBSERVATIONS By Murray W. Wolf Medical office leasing slowed dramatically during the past several months as physicians, hospitals and health systems hunkered down in response to the recession. So what is happening in the market today, and how can brokers cope? That was the emphasis of a panel […]
People: Lillibridge promotes eight employees
MONTGOMERY, FENDRICH BECOME EXECUTIVE VPs; SIX OTHERS ALSO MOVE UP Staff Reports Chicago-based Lillibridge, a private healthcare real estate firm, recently announced promotions in its offices in Chicago, Dallas, Atlanta and Denver. John Montgomery was recently promoted from a position as senior vice president (SVP) to that of executive vice president (EVP). He now heads […]
Companies: Hoar completes projects in Alabama
BIRMINGHAM-BASED CONTRACTOR FINISHES PROJECTS IN GLADSDEN, FAIRHOPE Staff Reports Birmingham, Ala. -based Hoar Construction LLC recently completed expansions at two hospitals in Alabama. The general contractor completed the 60,000 square foot Centennial Tower project at Gadsden Regional Medical Center in Gadsden, Ala. The project included a relocation and centralization of the hospital’s critical care units […]
Inpatient Projects: Hawaii grants CON for Honolulu plan
$36.3 MILLION KAPIOLANI EXPANSION WOULD START IN 2013, BE COMPLETE BY 2016 By John Mugford Rising demand for services prompted Kapiolani Medical Center for Women & Children earlier this year to propose a $36.3 million expansion of its neonatal and pediatric intensive care units (ICUs) in Honolulu. Recently, the state of Hawaii agreed that the […]
Outpatient Projects: Ground broken on MOB in Kyle, Texas
BREMNERDUKE DEVELOPING 96,829 SF FACILITY ON NEW SETON HAYS CAMPUS By John Mugford When Indianapolis-based BremnerDuke Healthcare Real Estate opened its South region office in Dallas in the summer of 2007, it was looking to bring in more business in that area of the country. So far so good, as BremnerDuke has landed at least […]
Capital Markets Snapshot: Capital markets look to be warming
LIBOR-OIS SPREAD CONTINUES TO IMPROVE; CREDIT SPREADS ARE NARROWING As spring moves into summer, the thaw in the credit markets appears to be accelerating. Expectations of economic improvement by mid- to late-2009, the government’s aggressive fiscal and monetary policies, improved access to capital by the financial sector, and strong core earnings by the banking sector […]