Many new medical office buildings are being constructed in South Florida as part of retail developments. Developers who have heretofore included office components with their projects are starting to realize that medical office buildings can sometimes make better sense than pure office use.
Portofino Plaza, a 90,000 square foot medical, professional and retail project located west of the Florida Turnpike and one-half mile from the new Homestead Hospital is scheduled for completion the first quarter of 2007. The project includes a movie theatre, Chilis restaurant, 30,000 square feet of retail space and 60,000 square feet of office condos.
Walnut Creek Plaza, located at the corner of University Street and Taft Street in Pembroke Pines has just been completed. It includes CVS Pharmacy, Wendys restaurant, a 24,000 square foot medical/professional office condo and a retail strip condo center.
There are many of these types of projects in the planning stages in the South Florida area. The most common locations for medical-retail mixes are suburban areas. Medical services follow housing and retail. Housing and retail need to be established for medical to work.
This trend has advantages for both retail and medical users. Visibility and accessibility are key factors for medical offices in a retail location. When a patient knows that a medical facility is located in a retail setting, the location is easy to find. There is a synergetic relationship between retail and medical facilities. A large healthcare group provides a good example. A medical group recently purchased 10,000 square feet in a medical building adjoining a shopping center with high exposure. The group chose to locate in the building to provide specialty programs to a growing and progressive area that is currently underserved for many important health services. The location they chose provides an ideal location for access and visibility for a large population of patients. The entrance to their building is directly off a main street which provides their patients and employees exceptional accessibility to the building. The location is also in close proximity to several area hospitals and medical centers.
Since retail facilities generate a tremendous number of trips per year, there is an advantage of greater exposure for the medical building. Medical buildings in a retail center can also attract patients due to the increased visibility in a high traffic retail setting. The physicians are near their patients, so they have the opportunity to increase their patient base.
If people are aware that medical services are available in a shopping center, potential patients might choose the medical practice in the retail location as a matter of convenience. If a patient has to undergo a surgical procedure at an outpatient surgery center, the family can go shopping or go out to eat while the patient is undergoing the procedure in the medical center. This is a strong amenity for the medical building.
The matter of parking is another added benefit. A lot of medical facilities are busier during business hours, whereas most retail sites are busier during the evening and weekends.
Some medical facilities are changing the way they provide services to their patients. They are offering their services very similar to retail users. While retail locations do not work for all medical users, it is definitely worth considering.
