Midwest Real Estate News April 2013 : Cover

midwest R E A L APRIL 2013 E S T A T E N E W S ® WWW.REJOURNALS.COM VOLUME 29, ISSUE 2 THE DAKOTAS | ILLINOIS | INDIANA | IOWA | KANSAS | KENTUCKY | MICHIGAN | MINNESOTA | MISSOURI | NEBRASKA | OHIO | TENNESSEE | WISCONSIN DIRECTORIES BEGIN ON PAGE 45: Ad Agencies, Top Brokerage Firms, Green Sustainable, Healthcare MOBs Patient demands driving healthcare changes By Dan Rafter, Editor hicago's HSA PrimeCare broke ground on March 1 on a new $10 million surgery center in Vernon Hills, Ill. The center, fully leased to Hawthorn Surgical Associates, is an example of a healthcare trend that is only growing stronger. Hospitals are building more specialty centers off their campuses as patients elect to schedule their surgeries, appointments and tests not at busy and often remote hospitals but at smaller facilities that are located in their own neighborhoods. "Most people prefer outpatient centers that are con-venient to them," said Jon Boley, vice president of ac-quisitions and development for HSA PrimeCare. "They prefer that to going to the hospital. So there's been a real effort by the hospitals to look at patient demand and open centers that are convenient for these pa-tients. They are easy to get into and out of. They are open reasonable hours. It's just a environment that's more attuned to what patients today like. It's simply more convenient." And this is a trend that looks like a long-term one. Suzy Cobin, senior vice presi-dent with HSA PrimeCare, said that advancements in technology are making it easier for hospitals to offer more procedures off-campus. At the same time, the elec-tronic medical record has made it easier for doctors in surgical Suzy Cobin centers, ambulatory care centers HSA PrimeCare and other outpatient facilities to look up the past medical histories of their clients. Finally, the country's changing demographics sup-port the move to outpatient facilities. "More Baby Boomers are in need of more care," Cobin said. "Hospital systems are grappling with how to serve more patients. These outpatient centers are a convenient way to serve patients that doesn't bunch up hospital's inpatient facilities. A lot of hospitals are at ca-pacity. These off-campus facilities allow hospitals a way to serve more patients, elevate the patient-care experi-ence and capture a greater market share." This trend has also led hospitals to form strategic al-liances with other healthcare providers as a way to gain market share in a wider geographic area. In New Lennox, Ill., for example, the University of Chicago has partnered with Silver Cross Hospital to run Compre-hensive Cancer Center at Silver Cross Hospital. C Downtown Cleveland’s resurgence brings new life to heart of the city By Dan Rafter, Editor leveland's downtown is anything but quiet today. A Horseshoe Casino opened in down-town last year. The first new office tower in Cleveland in 20 years, the 23-story Ernst & Young building, will open for business next year. The Cleve-land Medical Mart --now called the Global Center for Health Innovation --and Convention Center will open this summer, slightly ahead of schedule. Then there's the Flats East Bank project, a $500 million development located at an ideal location, where the Cuyahoga River meets Lake Erie. This de-velopment is scheduled to open this spring. Joe Martanovic, head of the industrial brokerage group at Cleveland's Ostendorf-Morris, sums it up well: "There is a great buzz around Cleveland on a lot of fronts," Martanovic said. "And the activity taking place downtown has certainly generated a lot of ex-citement. We are seeing people moving back into downtown." C A reverse migration Think of it as a reverse migration. For years, Cleveland residents moved away from the city's downtown. "Many people in my generation grew up in the inner city of Cleveland," Martanovic said. "We dis-dained it. We wanted to move to the suburbs. Now we are seeing an exodus back to the inner city. It is now exciting there. It's a hip place to be. I have young kids and they love to come to downtown Cleveland to be entertained. They talk about mov-ing there. It's a big change, a change for the better." KC Petraitis, a research analyst and licensed salesman at Ostendorf-Morris, understands this. He's a member of the Downtown Cleveland Alliance, a not-for-profit organization devoted to bringing new life into downtown Cleveland. Petraitis, like his co-worker, is thrilled with the pace of downtown growth. He points to the new convention center and Global Center for Health Innovation. That facility, > FEATURE (continued on page 22) > FEATURE (continued on page 19)

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