The medical office space sector of the commercial real estate market has experienced a great many changes over the past few years. These changes have shifted the focus for both investors and tenants within the market. Tenants have much more awareness of what it is that they need to draw in the right audience, making it imperative for landlords to anticipate their new needs and change their approach accordingly. Read on for a better understanding of what some of these changes are and how they might affect you as an investor or tenant of medical office space.
Increased Demand & Convenience
With baby boomers reaching retirement age, the medical office space sector has seen a huge growth in demand that doesn’t look like it will be stopping anytime soon. The larger demand has also begun to influence where new medical facilities are popping up. Urgent care centers, micro-hospitals, and rehabilitation centers are finding new ways to appeal to their demographic through location. It’s not surprising to find these types of facilities in shopping centers, strip malls, or even skirting residential areas where patients have easy access to them.
An SMA is a very interesting trend that has begun in the medical field and has a largely impacted the medical office space sector. SMA stands for “shared medical appointment”. This type of dynamic allows a doctor or specialist to see a small group of patients at one time who are suffering from similar conditions. While these patients are still receiving one-on-one, individualized attention, they are also benefitting from the interaction with a group of peers who are suffering from the same ailment. This not only creates a sense of community, which is imperative to the healing process, but also allows the practitioner the ability to see and treat an exponentially higher number of patients without having to repeat common advice. It also drastically reduces wait time and costs for the patient. Due to this increasingly popular idea, medical offices are finding the need for larger spaces that can accommodate more people, rather than only focusing on individual treatment rooms.
Shared Medical Spaces
In an effort to provide even more ease and convenience to their patients, many medical practitioners are partnering up. Doing so allows a doctor to offer a variety of convenient support services to his/her patients that are on-site, such as x-ray services, laboratory testing, chiropractors, et cetera. This is creating the need for medical office space that is larger than single office, but yet considerably smaller than a hospital. These multi-purpose properties are continuing to grow across the country.
With the ever-growing awareness of our fragile ecosystem, more and more medical practices are choosing green alternatives. The first step in this process is typically eliminating the paperwork that has been long-associated with a trip to the doctor. Practitioners are, instead, choosing to equip their medical office space with technological advances that can minimize the amount of paper crossing desks. This has created an increased demand for consistent and uninterrupted access to the internet. Medical offices are also choosing to get rid of the neon lights, turning instead to natural lighting. For this reason, they are seeking out spaces with open floor plans and lots of windows, as opposed to the doctor’s offices of old that were notorious for cramped, small, dark rooms.
Another interesting trend that is emerging in the medical office space sector is the increasing awareness of the role that aesthetics plays in the healing process. Where once it was considered fine, and even, perhaps normal, for a medical office to boast dingy carpeting, tacky posters, and a worn-out waiting room, more and more medical facilities are choosing to upgrade. Larger waiting areas are being introduced with various opportunities to appeal to patients. Some medical offices are even including computers, tablets, or video games to entertain their patients while they wait.
Décor has become increasingly important as well. Medical offices are trying to create a cleaner, calmer feeling by using softer colors and hanging simple artwork that induces relaxation. Furniture is larger and more comfortable in both waiting areas and exam rooms. In short, practitioners are looking to offer their patients a more comforting experience across the board.
Looking for Medical Office Space in Tampa or the Surrounding Areas?
Now that you have a better understanding of the important shifts taking place in the medical office space sector, you can make a more informed decision about what type of medical property is right for you and your business. Don’t, however, go it alone. John Milsaps has been specializing in the sale and leasing of medical office space for the past decade. His familiarity with the Tampa Bay market makes him a valuable asset to anybody looking to learn more about healthcare real estate. Check out some of the incredible properties he has to show you, and contact him today to schedule a walk-through!