drexeline town center groundbreaking
Developing Life Science and Healthcare Facilities Nationally That Promote Health Throughout the Community
MCB Science + Health recently celebrated the groundbreaking of our new 60,000-square-foot medical office building in Drexel Hill, PA, a fully leased building within the larger mixed-use development of the Drexeline Town Center. This vibrant MCB-owned project is anchored by the region’s largest grocery chain and within walking distance to the local light rail station, which provides an easy 30-minute commute to downtown Philadelphia. This high connectivity solidifies the Drexeline Town Center's status as a vibrant urban hub. The development also features a variety of retailers significantly boosting foot traffic and making it an attractive consumer destination further enhanced with excellent healthcare services.
Drexeline Town Center Medical Office Building | Drexel Hill, PA
While the healthcare niche of commercial real estate is crucial to the communities they serve and very attractive in today’s market, our group navigates complex projects that align with the mission of our healthcare clients while meeting the goals of our community. This is a process we have perfected over the last 30 years in 35 states. Developments like the new medical office building at the Drexeline Town Center highlight the success of the MCB Science + Health team’s specialized, comprehensive approach to determine a need for a market-specific healthcare location that delivers - whether freestanding or within a retail, office, or mixed-use development. MCB’s team leverages decades of experience with our detailed analysis to evaluate markets, determine the best site options, and identify a development program that works for retail, multifamily, and healthcare users. Developing an expansion of healthcare service on sites such as these gives healthcare providers easy and timely access to markets that they themselves may not be able to access and provides convenience to healthcare consumers.
The Wellness Center at Yard 56 | Baltimore, MD
We conduct a nuanced population analysis to understand the area’s demographics, examining factors such as age, income levels, existing health services, and payor mix. Our goal is to assist our healthcare partners in delivering what the population or community needs. Economic indicators such as employment rates, income levels, and healthcare spending in the area are evaluated to understand the economic landscape. Higher incomes and increased healthcare spending often correlate with a higher demand for medical services.
Surveys and focus groups allow the MCB Science + Health team to perform a community needs assessment. This engagement provides valuable insights into the community’s specific healthcare needs and preferences, helping to determine which services should be offered in a particular market.
Foot traffic and accessibility are also important factors in the evaluation process. Significant foot traffic in the retail area can indicate a good location for a medical office building. Patients’ ease of access, including parking availability and public transportation options, are also considered.
Gaps in service provisions are identified through market research, assessing the existing medical services in the area and evaluating whether the current healthcare facilities adequately serve the population’s needs. Competitive analysis is used to evaluate their offerings, specialties, pricing, and patient volume, which helps gauge if there is a need or demand for additional medical office space.
MCB Science + Health also researches future development plans in the area. Upcoming residential or commercial projects can significantly impact healthcare needs and increase demand for medical services.
Finding a suitable location is often the most difficult part of the development process in many markets. In a mature market such as Drexeline (Philadelphia MSA), finding a vacant site in an area that meets our due diligence requirements isn’t always the available solution. To make Drexeline a reality, the MCB Science + Health team identified an existing retail strip center, valued the site, negotiated the lease terms, planed an outpatient reuse for the site, and demolished the existing buildings to start fresh. This takes the expertise of a seasoned team and strong financial capability to execute.
MCB Science + Health has highly specialized life science and healthcare real estate expertise and the backing of MCB Real Estate enabling our team to do the heavy lifting in providing healthcare providers location opportunities in markets that are attractive and programs that provide timely and cost effective access that meets their patient needs.