Abandoned mall conversions are a new real estate trend gaining more momentum by the day in the current economic climate. That is because using vacant mall space as a foundation for a new office or business location has its advantages. With astute commercial construction and remodeling design, much of America’s vacant mall space can be converted into a safe and functional office setting. One industry that seems to be excelling at the mall redevelopment trend is the medical facility industry.
Continue reading to learn the top benefits of turning old, vacant mall space into a new medical facility, and how to get your space planning and permitting started before the end of the season this year.
Vacant Mall Space Conversions
After the whirlwind of events experienced in our nation recently, more and more consumers are shopping online or locally, rather than the city mall. This reason, coupled with wide-spectrum economic depression, has led to a significant drop in occupancy for many shopping centers and malls all around the country. Several malls have even had to close down entirely because of insufficiency tenancy, as they cannot continue to afford the massive overhead needed to keep a large mall up and running.
A solution to this problem seems to be mall conversions. With skilled space planning and remodeling, vacant or abandoned mall space can be turned into a state-of-the-art, sophisticated business setting for various applications, including offices, ghost kitchens, and even medical facilities. In fact, there are many good reasons why commercial real estate developers are leaning more towards mall redevelopment for medical facility construction rather than building from the ground up.
Building a Medical Facility in an Abandoned Mall
Although it sounds like you are compromising quality and structural integrity by choosing to renovate old mall space into a medical facility, vacant mall space is actually a real asset for medical facility construction. Mall redevelopment provides the same basis of construction and design, without tacking on the additional building costs required to construct a facility from the ground up. Here are some additional noted benefits of medical facility mall conversions:
► Prime Location – Malls are built in prime locations around highway and interstate connections to attract and draw in a larger market around the city. For this reason, medical facilities do well in converted mall spaces because patients and staff can easily access them from a broad area.
► Adequate Accessibility – Malls are large facilities themselves, which is why their parking lots are usually massive. This is an advantage for medical facility operations because mall parking lots offer sufficient space for patients and staff, as well as ambulatory and emergency vehicles. Furthermore, mall parking lots are typically ADA compliant, and come with handicap parking, ramps, automatic doors, wide turn around space, and similar compliancy.
► Square Footage – As we keep mentioning, malls are big, so space is something they can offer generously. This is an advantage for medical facilities because it delivers adequate square footage for lobbies, waiting rooms, exam rooms, operating rooms, diagnostic rooms, conference rooms, offices, break rooms, inventory storage, and more.
► Reduced Costs – Converting old mall space into a new medical facility reduces construction costs drastically because the bones are already there. Furthermore, malls are opening their doors to such lease agreements because they are desperate for income, which means cheaper rent for tenants.
Are you interested in learning more about commercial space conversions or medical center construction in Central Indiana? Contact BAF Corporation at 317-253-0531 for superior healthcare construction in Indianapolis, Indiana. We work with clients all throughout the state.
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