Office Space for the Healthcare Professional

With so many professionals and organizations associated with the healthcare industry today, it’s no wonder that there is an equally broad array of office space to suit their varying needs.  Below are a few possibilities whether you’re a physician, a home care administrator, a healthcare student or an insurance provider.

You could locate your office in a bustling business park; one that is in a suburban setting, yet at the center of a nexus of companies, such as the Southpointe Business Park.  There are many Class A office buildings to choose from here, all of which benefit from free parking.  This is a key amenity for patients and tenants.

An office in the heart of downtown Pittsburgh might be what you’re looking for.  There are many upscale options in properties such as Piatt Place and The Gardens at Market Square, where you can easily cater to certain clientele.  A ‘green’, LEED-certified building might be the way to go.  Sustainable redevelopments are the focus of new developments in the city with an eye toward helping revive Pittsburgh’s central business district.

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Controlling Costs on Construction Projects

By Marisa Manley

Physical elements of your healthcare facility – whether created through new construction, expansion, or renovation – can help attract patients and provide the community with superior care.  But without good planning and execution, hospital executives are likely to endure excessive costs and delays with possibly diminished patient relations and to end up with an inadequate facility.

The first step in  proper planning is to choose a project team that can work effectively together.  Team members include hospital executives, the project manager, the architect/ engineering group responsible for design and for mechanical, electrical and plumbing systems (MEP), and the general contractor (GC).

Your team must have clear objectives, communicate them clearly, and make timely decisions.  Your project manager, sometimes called an “owners rep,” must coordinate and manage the architect/engineer and GC, monitor schedule and budget, be first-responder for unexpected situations, and lead weekly team meetings.

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Weighing the Real Estate Options: How to Cost-Effectively Lease, Expand and Build Facilities for the Future

By Marisa Manley

A crucial by-product of the healthcare boom is the high cost of occupying real estate, now the second or third largest expense, after personnel and insurance, for general and specialty medical practices, hospital groups, and diagnostic labs.

In Western Pennsylvania, once the steel industry hub but now a center for health care and education, today’s high vacancy rates for medical office space have opened the door for sweetheart deals on new leases.  But the watchword is always caution.

Owners of buildings and properties are always looking to put themselves at an advantage in any lease agreement, so facility managers who want to reduce risk and get the greatest value out of their real estate must start the process early, define needs and goals, and use all the power of alternatives.

It is important to create a detailed project plan, schedule anticipated resources and estimate the costs of each phase.  It is also critical to establish firm criteria for site selection including size, location, price range, and whether the property is to be leased or purchased.

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Office Space for Rent

If your business or practice is thinking of adding another location or wishing to relocate, you may want to take a look at two properties that are priced right—one in the Churchhill area and the other in the Oakland area. It’s perfect for a small practice or any healthcare-related business. Click on their ad to learn more about these properties from McKinney Properties.

ULI Pittsburgh – Health Care Real Estate: Trends and Insights Nationally and Locally

Here’s another event worthwhile to check out for those in the health care arena: ULI Pittsburgh HEALTH CARE REAL ESTATE: Trends and Insights Nationally and Locally on March 30, 2011 at the Rivers Club in downtown Pittsburgh.

Features:

Jeffrey Ackerman
Director, Private Client Group, EVP Brokerage, CB Richard Ellis Capital Markets

Eric Cartwright
VP Corporate Construction and Real Estate, UPMC

Eric Fischer
Managing Director, Trammell Crow Company, Washington DC and 2010 Fall Meeting Program Chair ULI Healthcare and Life Sciences Council

Moderated by: Louis Oliverio, Special Counsel, DLA Piper LLP (US)

The impact of the health care industry on real estate has increased significantly in recent years. This impact is felt not only on hospital campuses, but in retail shopping centers, office buildings, and mixed-use projects. The enactment of health care reform legislation in Washington and the flight to quality by real estate investors in response to the economic downturn are just two reasons for this increased impact. The growth of the health care real estate sector deserves significant attention, which is why you should be part of this unique opportunity to hear from leaders in the health care industry. Consistent with ULI Pittsburgh’s slogan of “National Trends, Local Perspective,” this program will provide a basis for understanding national health care real estate issues while discussing local impacts.

For registration and additional information, visit ULI Pittsburgh.