Space in shopping malls vacated by slumping retail businesses is being filled in a number of ways including large medical providers, according to the Wall Street Journal.
The partnerships are largely considered a win-win for healthcare organizations and mall owners.
For medical tenants, malls offer advantages such as a large, sturdy physical footprint for medical equipment, access to major transportation arteries and ample parking.
In Nashville, the Vanderbilt University Medical Center operates Vanderbilt Health at One Hundred Oaks mall, where it has been an anchor tenant in the mixed-use property for nine years.
The mall, which was previously close-to-empty, is now 98% occupied, with Vanderbilt Health filling about half of the space.
There isn’t a fixed formula for success, so some landlords are adding medical providers to complement an existing retail tenant mix, while others switch to specialize only in healthcare.
Read more at WSJ.com (subscription may be required).
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