Re-developing Vacant Big Box Retail Facilities

Your community has a unique hidden asset, which needs immediate attention. That unique resource is that closed, bland-looking big box retailer or possibly strip center, sitting in front of acres of parking on the main highway of town. Conveniently located to access its 10-mile market area and an instantly recognized location by consumers; these hidden resources are being redeveloped into a range of healthcare uses from medical malls to wellness centers. After redevelopment, they often spur new growth nearby.

What also is of interest is the ability to create a new ambulatory care setting at a lower cost than for a comparable new “Greenfield” type project. In most situations, both acquisition and renovation costs are substantially less, and financing is typically available from the owner or through other economic development programs especially for a new community amenity that our business model provides.

We worked with Altoona Hospital in Altoona, Pa., on the feasibility for this type of project. The Station Mall is an excellent example of the redevelopment of a 1970s shopping center into a new business of medical offices and potentially, a health and wellness center.

Today’s healthcare executives need to simultaneously expand and execute less costly approaches in a consumer-driven healthcare environment with convenient locations and a mix of physician, clinical and wellness services. If your organization has the vision to perceive of these resources as an opportunity, then we can create a program and a facility that works for you.