Healthcare Real Estate Development: Sweat the Small Stuff

It’s easy to focus on the big healthcare real estate projects.  After all, they tend to receive the most press coverage.  And, as Phil Runkel earlier blogged, Size Matters.  That being said, I encourage you not forget about the not-so-large projects.  As pointed out in Medical Office Upswing, a great deal of healthcare real estate construction (both in development and in upfit) is in the arena of small and mid-sized projects. 

Of course we enjoy the large deals and developments, but there’s much to be said for the not-so-big projects as well.  For example, there’s much satisfaction to be had in helping a group of Doctors purchase and develop their own medical office building.  Often such projects not only help a practice group’s long term success, but also help increase patient access to healthcare.  Such projects can even help decrease healthcare costs, by moving certain services to lower cost square footage.

If you’re in healthcare real estate for the long haul, consider keeping in mind the small and mid-sized projects as well.  Many believe that we will see more and more of these developments (even for the large healthcare providers), as providers develop more off-campus and secondary and tertiary markets in their efforts lower costs and increase patient convenience.