Orlando, Fla. --- A quarterly study of retail property trends in the southeastern U.S. indicates health care providers may be a significant growth market for retail shopping centers over the next decade.
Two major demographic trends are sparking the change, according to Health Care Reform: Changing Retail Real Estate, published by Crossman & Company, one of the largest third party retail leasing, management and investment sales firms in the Southeast.
Since the Affordable Care Act went into effect more than 17 million Americans have joined the U.S. health care system, and that number is projected to top 30 million by the end of the decade.
In addition, an average of 1,500 Baby Boomers reach retirement age every day in the U.S. and qualify for Medicare.
Both of these demographic waves result in significant additional demand for health care services from consumers who tend to be more cost-conscious. On the other side of the equation, ACA and Medicare requirements are increasing costs and reducing compensation for health care providers.
The Crossman report cites another major trend that makes retail centers so appealing to health care providers.
Employers are shedding the traditional model of working directly with insurance brokers for their employees’ coverage. They are giving their employees a preset contribution to apply toward health care and shifting the burden of choice to workers, and that means cost will be a principal factor in choosing providers.
For health care providers, those trends point the way toward less expensive facilities that are closer to the people who use them.
The Crossman report identifies several factors that appeal to health care tenants, including: good parking, higher ceiling heights, spaces that can accommodate separate HVAC and plumbing systems, options for storage of secure health records to maintain HIPAA standards, resources for the disposal of medical waste, increased use of utilities, specialized janitorial and security services and easy access for patient pick-up and drop-off.
The report concludes that while medical uses in retail centers may require more investment and higher attention to lease negotiations, medical tenants can offer great credit, longer lease terms, and be a positive traffic draw to the center.
Thursday, October 15, 2015
Berkadia negotiates investment sale of 88 Unit Apartment community north of Birmingham
Birmingham /Hanceville, Ala. – Berkadia, one of the nation’s largest and most active multifamily investment sales companies, recently negotiated the sale of Pavillion Apartments, an 88-unit apartment community at 401 College Drive, N.E. in Hanceville, 45 minutes north of Birmingham.
Josh Jacobs, investment sales associate at Berkadia along with David Oakley, managing director, negotiated the transaction representing the California-based seller Cypress Axiomm Capital.
Jacobs said the apartments, built in 1996, sit one block from Wallace State Community College, which has been a staple of the community for five decades and recently underwent renovations and expansion.
The Thrash Group, based in Mississippi, purchased the property for an undisclosed price.
Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corporation, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties.
Josh Jacobs, investment sales associate at Berkadia along with David Oakley, managing director, negotiated the transaction representing the California-based seller Cypress Axiomm Capital.
Jacobs said the apartments, built in 1996, sit one block from Wallace State Community College, which has been a staple of the community for five decades and recently underwent renovations and expansion.
The Thrash Group, based in Mississippi, purchased the property for an undisclosed price.
Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corporation, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties.
Pulte Homes sets grand opening for Starling Oaks Nov. 21 New Creekview Model Underway
Riverview, Fla. – Pulte Homes is planning a grand opening for its newest gated community, Starling Oaks, on Nov. 21 from 10 a.m. to 1 p.m.
Sean Strickler, president of Pulte’s West Florida division, said the homebuilder started construction of its Creekview model home that will be unveiled at the grand opening.
The single-story Creekview plan with 2,489 square feet of living space, offers four bedrooms, three baths and a flex room. The extended island kitchen serves a café and a huge gathering room. Optional features of the model include a loft and extended three-car garage.
Stickler said Pulte is offering 48 home sites at Starling Oaks with natural landscaping and mature trees located off Boyette and Balm Riverview Roads in Riverview.
New homes at Starling Oaks range from 2,489 square feet of living area to 4,201 square feet in five distinct energy efficient designs that feature Pulte’s Life Tested® options including lofts, media rooms, and Owner’s Entry® with Pulte Planning Center.
The community features water views for new one and two story, up to four-bedroom homes with three-car garages priced from the low $300s, Strickler said.
Starling Oaks is conveniently located across the street from Riverview High School and features no CDD (Community Development District) fees. Homebuyers will also enjoy easy access to shopping, a hospital and restaurants via major arterial highways.
Visit www.Pulte.com/StarlingOaks/ for more information on the grand opening.
Sean Strickler, president of Pulte’s West Florida division, said the homebuilder started construction of its Creekview model home that will be unveiled at the grand opening.
The single-story Creekview plan with 2,489 square feet of living space, offers four bedrooms, three baths and a flex room. The extended island kitchen serves a café and a huge gathering room. Optional features of the model include a loft and extended three-car garage.
Stickler said Pulte is offering 48 home sites at Starling Oaks with natural landscaping and mature trees located off Boyette and Balm Riverview Roads in Riverview.
New homes at Starling Oaks range from 2,489 square feet of living area to 4,201 square feet in five distinct energy efficient designs that feature Pulte’s Life Tested® options including lofts, media rooms, and Owner’s Entry® with Pulte Planning Center.
The community features water views for new one and two story, up to four-bedroom homes with three-car garages priced from the low $300s, Strickler said.
Starling Oaks is conveniently located across the street from Riverview High School and features no CDD (Community Development District) fees. Homebuyers will also enjoy easy access to shopping, a hospital and restaurants via major arterial highways.
Visit www.Pulte.com/StarlingOaks/ for more information on the grand opening.
NAI Realvest Negotiates Lease in Winter Park for 5,490 square feet to house new Massey Communications Offices
WINTER PARK, Fla. – NAI Realvest recently negotiated a long term lease agreement for 5,490 rentable square feet at 1201 S. Orlando Ave., in Winter Park.
Senior Broker Associate Mary Frances West, CCIM and Tom R. Kelley II, CCIM, a principal at NAI Realvest, negotiated the lease representing the landlord Gateway Plaza Ltd.
Massey Communications, Inc. is the new tenant relocating from Orlando. Jeff Sweeney and Austin Johnson of Cushman & Wakefield represented Massey.
Senior Broker Associate Mary Frances West, CCIM and Tom R. Kelley II, CCIM, a principal at NAI Realvest, negotiated the lease representing the landlord Gateway Plaza Ltd.
Massey Communications, Inc. is the new tenant relocating from Orlando. Jeff Sweeney and Austin Johnson of Cushman & Wakefield represented Massey.
Tyler Property Management Readying New Offices for November 1 Opening
Ormond Beach, Fla. – Tyler Property Management, which currently leases and manages more than 550 properties in the Volusia-Flagler areas, recently purchased the property at 198 N. Nova Rd. in Ormond Beach.
Crystal Anderson, owner of Tyler Property Management, said the relatively new, 2800 square foot, freestanding building is undergoing some interior remodeling for the company’s new location which will be completed and ready for move-in by Nov. 1.
Anderson said Tyler Property Management’s Holly Hill office will close and former owner Steve Tyler will be the managing broker at the new Ormond Beach location which will include a total staff of nine.
The new Nova Road office will control long term rentals throughout East Volusia and Flagler counties, while beachside properties will still be handled by Anderson’s Oceans Luxury Realty Daytona Beach Shores office.
A grand opening to the public is planned for the new Tyler Property Management offices in Ormond Beach on Nov. 14.
Crystal Anderson, owner of Tyler Property Management, said the relatively new, 2800 square foot, freestanding building is undergoing some interior remodeling for the company’s new location which will be completed and ready for move-in by Nov. 1.
Anderson said Tyler Property Management’s Holly Hill office will close and former owner Steve Tyler will be the managing broker at the new Ormond Beach location which will include a total staff of nine.
The new Nova Road office will control long term rentals throughout East Volusia and Flagler counties, while beachside properties will still be handled by Anderson’s Oceans Luxury Realty Daytona Beach Shores office.
A grand opening to the public is planned for the new Tyler Property Management offices in Ormond Beach on Nov. 14.
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