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Dallas-Based Caddis Breaks Ground On 60,000 SF Healthcare Project In Frisco

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Caddis, a Dallas-based developer exclusively focused on healthcare real estate, has broken ground on a 60,000-square-foot project in Frisco.

Frisco Medical Pavilion II will be located at 12850 Dallas Parkway, just north of Texas Health Frisco, a full-service hospital that opened in 2019.

Dallas-based Grace Hebert Curtis Architects is designing the project, and Novel Builders is serving as the general contractor.

Transwestern is the leasing agent. Completion is slated for early 2024.

 

Source: REBusiness Online

Nothing But Good News Abounds In The Healthcare Real Estate Sector

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At a time when U.S. and international headlines have been full of bad news, there seems to be nothing but good news to report about the healthcare real estate (HRE) space.

To start with, medical office building (MOB) sales in 2021 – despite the lingering of the COVID-19 pandemic – broke the all-time record for volume at $17.4 billion, topping the previous record of $15.4 billion set in 2015.

In addition, occupancy rates increased significantly last year, absorption of MOB space is as strong as ever, MOB construction starts are on the rise, and third-party owned MOB projects made up a larger share of projects than any of the previous seven years.

This data and more was presented during a session at last week’s Revista Medical Real Estate Investment Forum 2022, which was held at the Loews Coronado Bay Resort from March 2-4. The annual event is put on by Arnold, Md.-based Revista, which gathers a wide range of HRE data for its subscribers.

Kicking off the agenda on the second day of the conference, March 3, Revista Principals Mike Hargrave and Hilda Martin provided the audience with a wide variety of data from 2021 during a session titled “Medical Real Estate Trends & Top Markets.”

 

Source: HREI

Outpatient Surgery Centers Expected To Have A ‘Strong Decade’

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Surgery centers are going to be in demand through 2030, according to an Albany Business Journal report that examined the Ambulatory Surgery Centers (ASC) market.

Here are three insights from the report:

— The worldwide outpatient surgery market is expected to hit $93 billion by 2025, a drastic increase from 2017’s $61 billion.

— The growing migration of procedures from the inpatient to the outpatient space, too, is evidence of the effect surgery centers can have on healthcare.

— In Albany, N.Y., for example, at least six surgery centers have been proposed, approved or completed over the last two years, and several area hospitals began building or partnering for their own surgery centers.

More than 200 ASCs have been opened or announced since January 2019. Click here for a breakdown by month and state.

 

Source: Becker’s ASC Review