Its no secret that health care, along with restaurants, health food concepts and specialized fitness users are the most active categories in the retail landscape in Philadelphia. One sector of health care that we have a great deal of expertise is Urgent Care as we have helped some of the largest companies expand their brand in the Delaware Valley. In the past five years, our region has seen most of the national companies in the space make a splash i.e. – AFC Urgent Care, Med Express and Patient First. Most Landlords find that urgent care is very retail friendly due to the credit of the Tenants, light parking requirements and the initial Lease Terms of 10 years. However with the expansion question of the sector, many are worried if we are being over saturated, Especially because we have seen hospitals and health care systems jump into the space i.e. – Main Line Health, Jefferson and Crozer. The answer is a resounding NO! All of the research shows that people are not satisfied with both the wait times and the cost of emergency rooms.
In addition, primary care offices in dense areas are equally as busy and getting things such as flu shots, sports physicals and basic prescriptions are difficult and time consuming. If you look at NYC and Chicago, you will see that per capita our region has a great deal of room to add. The deals are happening fast as each company is trying to claim stake to certain zip codes and locations so if you are looking to obtain a good Urgent Care Tenant, contact them today or consult your commercial real estate agent!
Written by PRG Principal, Steve Jeffries
Follow him on twitter at www.twitter.com/steveprecision1