Midwest Real Estate News October/November 2015 : Page 1

MINNESOTA | MISSOURI | NEBRASKA | OHIO | TENNESSEE | WISCONSIN WWW .REJOURNALS.COM OCT/NOV 2015 VOLUME 30 ISSUE 06 Directories begin on page 36: Asset/Property Management Firms, Construction Companies PAGE 39 THE DAKOTAS | ILLINOIS | INDIANA | IOWA | KANSAS | KENTUCKY | MICHIGAN Changing patient demands mean business boost for healthcare developers By Dan Rafter, Editor H ere is what patients don’t want today: They don’t want to wait for hours for treatment at a sprawling hospital campus. They don’t want to spend an entire day waiting for X-rays or a diagnosis from a swamped emergency room doctor. Instead, patients are increasingly seeking treatment away from central hospitals and at stand-alone clinics or outpa-tient treatment centers. This is changing the way developers and medical provid-ers work together. Developers and hospitals are working to build new outpatient facilities designed to bring medical services closer to the population, and to get patients seen by doctors, treated and home in as little time as possible. Keith Konkoli, executive vice president for healthcare for Indianapolis-based Duke Realty, is seeing this trend playing out now. And he doesn’t see it tapering off any time soon. “Hospitals do want to move healthcare out of the inpa-tient hospital as often as possible and into an outpatient setting,” Konkoli said. “A procedure that might have re-quired an overnight stay just two years ago is now going to an outpatient setting. They want patients treated and out of their facilities as quickly as possible.” T FEATURE Crossing the border: Illinois industrial users jumping to Southeastern Wisconsin By Dan Rafter, Editor he numbers tell the story: In the last four years, the Kenosha and Racine submarkets of Southeastern Wisconsin --right over the Il-linois/Wisconsin border --have seen 17 industrial deals of 100,000 square feet or more. Of those 17 deals, six involved companies that made the move from the northern Illinois county of Lake County to Southeastern Wisconsin. And industrial users heading in the other direc-tion? Ryan Bain, first vice president of corporate advisory services with the Bannockburn, Illinois, office of CBRE, says that there might have been one large industrial user that made the reverse trip, moving from Southeastern Wisconsin into Lake County, Illinois, during the last four years, CONVENIENCE RULES It’s not surprising that outpatient facilities are making up a large percentage of the healthcare facilities developers are building across the Midwest today. Patients are demanding that medical care be more convenient. And patients, after all, are the customers of hospitals. When the customer wants something? You need to deliver it. HEALTHCARE FEATURE (continued on page 13) WISCONSIN FEATURE (continued on page 12)

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