Medical Leasing – Just What the Doctor Ordered for a Shopping Center
Healthcare accounts for more than 17% of US GDP (approximately $3.5 trillion per year), according to a recent report from CNN. The industry is only expected to grow, as drivers such as the Affordable Care Act create millions of more insured consumers and the changing demographics push for easier and quicker access to healthcare. As the retail sector struggles with store closings and downsizing, healthcare services traditionally located in office buildings, like dental, physical therapy, and medical imaging, are relocating or expanding into shopping centers. Currently, only about 10% of shopping centers have a healthcare tenant. These tenants bring in a steady flow of foot traffic for shopping centers. Medical tenants also have overall higher credit ratings, which can provide further stability to the centers that house them.