There has been a dramatic increase in urgent care and accessible primary care medical services operating as “retailers” in neighborhood centers. Kennedy Wilson’s Kyle Fishburn, who specializes in the leasing of anchored shopping centers in Southern California, shared insights into this convergence of retail and healthcare.
The key factor is to find locations in heavily trafficked grocery and drug store- anchored shopping centers that will generate repeat customers multiple times per week. The healthcare user deal structure is great for the landlord since these tenants tend to be stable and long-term. These deal structures make sense for both parties because the spaces are expensive to build out, so the tenant must be invested in the space and the shopping center. For healthcare users, a special emphasis must be placed on geographic convenience and synergy with the anchors. Ideally, all tenants – anchors, quick service restaurants, daily needs, etc. – support and build off of each other.
All of the tenants are building off of each other’s success, and are effectively sharing a client base to create the ideal customer/patient experience. The customer loves the convenience of going to multiple uses within one center. When a healthcare tenant such as an urgent care opens at a shopping center, the center becomes even more of a destination.