Healthcare & Medical Office
As the population of Central Florida continues to expand, the need for medical office space continues to increase. The trend of hospitals acquiring physician groups has slowed, and as healthcare delivery methods evolve, many physicians are choosing to work independently or create physician groups. This trend is creating a large need for new medical office and medical office buildings. According to a recent article from Cushman & Wakefield, medical office vacancies are falling, asking rents are increasing, acquisitions by Real Estate Investment Trusts are increasing, and cap rates in this sector are falling.
SMC’s roots are in medical and specialty office. This market segment includes pediatrics, radiology, dental, pharmaceutical, clean rooms, dialysis, outpatient surgery, and various specialist offices and labs. These offices may be new construction or interior buildouts of existing spaces. SMC has extensive experience in this sector, and offers a level of technical knowledge and design expertise that ensures a competitive edge.
SMC will strategically pursue opportunities in the medical office market, particularly utilizing the design-build delivery format. For independent physician groups, SMC’s full range of services offers the confidence that goals will be achieved with an effective design, an achievable schedule, and a budget that meets the client’s requirements. For larger developments, SMC boasts a resume of many successful projects, and can deliver the level of service the client requires from site development and utilities coordination to design development and permitting to execution and delivery of the final product.
In addition to medical office, SMC will work to expand its footprint in the medical sector to include other healthcare construction and hospitals in particular.
Hospitality & Seniors Housing
Central Florida is well-known to have one of the highest concentration of hotel rooms in the United States. With Orlando officially dubbed the most visited destination in the U.S., the demand for hotels are steady. In addition to new hotels, there are many aging and outdated rooms that will require renovation or replacement in the coming years.
SMC’s principals boast an impressive resume particularly in the hospitality market. Between design and construction, SMC’s principals have directly managed over $1 Billion in hotel design and construction. SMC will seek design-build and construction management opportunities in the hospitality and assisted living markets. Specifically, SMC seeks to be a significant player in the design, development, and construction of limited service hotels across Central Florida, and further expanding into the Southeast over the next five years.
Similar in construction to hotels, assisted living facilities are currently booming and expected to continue for the next ten years. With SMC's expertise in both hotel and medical facility construction, seniors housing is a perfect blend of construction for SMC to develop and manage.