Medical Office Today's Spotlight on Columbus

I'm pleased to have provided the following article to Medical Office Today profiling the Columbus market:

Over $2 billion in healthcare-related projects are underway in Central Ohio, with most of the activity related to hospitals’ on-campus expansions and increasing their suburban presence. Hospitals and physicians alike are working to improve margins in what has been a challenging economy and healthcare environment...
(Click for Full Article at Medical Office Today)

The best study I've seen about healthcare changes their impact on medical office demand

"The Outlook for Healthcare" was published by Urban Land Institute and Seavest Inc... I've found it to provide the best one-stop source for understanding the dynamics of the market and the most likely expected outcomes as they relate to demand for new facilities.

I think they hit almost all of the nuances and they're able to do so in less than 40 pages. I'd make a comment about what it means when simplification is "just" 40 pages but it's probably better if I don't comment. Still, it's a fairly easy read and insightful.

The entire study can be downloaded here: The Outlook for Healthcare

The Cardinal Orthopedic Institute Buys Near Polaris

The Cardinal Orthopedic Institute has just purchased a 19,694 square foot shell building located near the intersection of Polaris Parkway and Cleveland Avenue. The building (560 N Cleveland Avenue) has been vacant since it's construction in 2007. Although the asking prices for this project were once north of $150 per square foot, Cardinal was able to purchase at the discounted rate of approximately $102 per square foot.

I assume this site will serve as a point of consolidation for the two Westerville practices they acquired in the first half of 2010, Westerville Orthopedics and Northeast Orthopedics.

I anticipate that sales at this discount rate and lower will continue as many commercial real estate owners still languish under the burden of vacant buildings. For hospitals and physicians who have a need for space, there are a number of opportunities to purchase vacant buildings at 50% or less of original pricing.

Good article on Mt Carmel's Grove City emergency care center

This has made headlines recently, both in the medical community and the commercial real estate community. The article below from This Week news does a good job of providing a "deeper dive" into some of the details.

Mount Carmel plans to build emergency care center

Grove City is preparing for the arrival of a 24-7 emergency room facility to be run by Mount Carmel Health System. Mount Carmel is in contract with Mid-America Racing Association Inc. to purchase 112 acres to develop its healthcare services at the site of the former Grovebrook Golf Club off state Route 665.
Full Story linked: This Week News re Mt Carmel emergency care center