2019 Mid-Year | Houston Healthcare | Research & Forecast Report
Houston healthcare real estate market continues to expand in the suburbs
Commentary by Coy Davidson
The Houston healthcare real estate market continued to expand over the first half of 2019 as Houston's leading Health Systems grow to accommodate Houston's rapidly increasing population.
These expansions are not confined to just the Texas Medical Center as providers are investing a significant amount of capital in expanding their suburban footprint at satellite campuses and outpatient centers throughout the metropolitan area.
For the third year in a row, the top Houston-area hospitals reported average outpatient revenues to account for almost half of all revenues, slightly less than revenues generated by inpatient services.
Outpatient clinics are more important than ever before as they become the primary delivery vehicle for care. The traditional hub and spokesmodel in healthcare, which puts hospitals at the center of care delivery, is changing to focus more on ambulatory care.
• MD Anderson Cancer Center opened its West Houston Outpatient center in June.
• UTMB Health opened its new Clear Lake Campus in the former Bay Area Regional Hospital in March.
• Memorial Hermann completed a $25 million-dollar expansion at its Cypress Hospital location.
• Houston Methodist The Woodlands announced a new $240 million, 100-bed patient tower, as part of an expansion of their Woodlands Campus, as well as a new 150,000 square foot medical office building on their Clear Lake Campus.
• HCA Houston Healthcare Tomball announced a redevelopment of the campus with plans for a new 50,000 square foot MOB.
• HCA acquired all 24 MedSpring Urgent Care centers in Austin, Dallas and Houston from Fresenius Medical Care which included even (7) Houston area locations.
• CHI St. Luke's is preleasing a new 60,000 SF Medical Office Building at The Vintage.
• Kelsey-Seybold Clinic broke ground on a new 5.5-acre clinic in Kingwood and is under construction on a 37,000 square foot clinic in Grand Morton Town Center in Katy.
Medical Office Building Construction
232,222 square feet of new medical office space delivered in the first half of 2019, which includes... to read the full report, click here: https://www2.colliers.com/
Lisa Bridges | Director of Market Research