May 8, 2018
Houston healthcare real estate expert Chris Wadley recently joined the Houston office of JLL as Senior Vice President and Houston Healthcare Lead.
Chris will oversee the growth of our Houston Healthcare Practice, including tenant representation, agency leasing, capital markets transactions and construction management for hospitals, health systems, life science companies and academic institutions.
Here are some insights Chris recently shared with GlobeSt.com. For more on Houston healthcare real estate, check out the full article.
What are some of the top challenges facing hospitals and healthcare service providers today and how can real estate be a solution to some of these challenges?
Healthcare revenues have decreased while costs have increased. The entire industry is having to do more with less. If leveraged properly, real estate can be a vehicle by which savings are realized and value added through design and technology.
Today’s healthcare facilities are being developed with efficiency and patient-experience in mind. Facilities are designed to be cost effective in energy consumption, size and flow of services. Hospitals and medical office buildings are also being designed to improve the patient experience. This includes more inviting interiors and convenient layouts. For instance, medical office buildings today often have attached parking garages that offer access directly to the adjacent floor for convenience and reduced patient exposure.
There is a significant opportunity for technology to improve processes, facility utilization and as a result, save time and money. For example, Advanced Technologies Group (ATG), a technology-driven consulting firm, assists hospitals, health systems and universities automate and proactively address regulatory compliance requirements. ATG’s technology decreases healthcare system spending through achieved business efficiencies and by eliminating non-compliance issues and subsequent fines.
What is the biggest opportunity you see in healthcare real estate?
Institutional investors have never been more focused on healthcare real estate. As other real estate asset types have proven risky over the last several years, healthcare has come to be viewed as a safe investment. Capital previously invested in other asset types is now available to healthcare systems and developers. This environment has created opportunities for hospitals and health systems to leverage their real estate portfolios for added value.
Can you describe Houston’s life science sector today, how is it evolving and where do you see it going?
The TMC, its member institutions, and business and community leaders are all pushing to make Houston a top destination for not only research, which we already are, but commercialization and investment. Houston’s life science sector is evolving from almost entirely non-profit institute research, to one in which the private sector can flourish. Over the next several years we expect Houston to be a place where companies can move from start-up phase to growth, manufacturing, expansion and maturity, making Houston an attractive destination for commercial life science, pharmaceutical and medical device companies.
Learn more about Chris and JLL’s Houston Healthcare Practice in these Houston Business Journal articles:
Exclusive: Top health care broker leaves Transwestern to join JLL
JLL’s new Houston health care leader to ‘grow the platform quickly’