California Centers

SEP 2018

California Centers Magazine serves retailers, developers, shopping center owners, investment sales brokers and tenant representation firms throughout the state of California.

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Page 34 of 56

28 California Centers Magazine | September 2018 C C and not patients has become paramount. This has led to what has been dubbed the "retailization of healthcare." A SANDWICH, A MOVIE, A BLOOD TEST Nearly all the ma- jor healthcare play- ers in California — including Molina Healthcare, Provi- dence Health, Tenet Healthcare Kaiser Permanente, Care- More, St. Joseph Hoag Health, Med- Post, Optum (United Healthcare), MemorialCare and more — have es- tablished a presence in at least one shopping center, with many opting for multiple outlets. Large retail owners like Unibail Rodamco Westfield and Lincoln Prop- erty Company welcome this retailiza- tion of healthcare, recognizing these alternative tenants can inject new blood into a center — sort to speak. "Infusing health- care organizations into retail centers connects services closer to patients at a time when two key demographics — Baby Boomers and Millennials — are entering their prime years for consump- tion," says David Ruddick, executive vice president of leasing for Unibail Rodamco Westfield. "Within the next 10 years, it will be the norm to grab lunch, go see a movie and get a blood test all on the same day, at the same location." Westfield is banking on this trend. The retail giant counts UCLA Health and Next Health, which offers every- thing from cryotherapy to stem cell therapy and bio-identical hormone re- placement therapy, among its tenants. UCLA Health launched its inaugural retail outpost at the Village at West- field Topanga in October 2015. This was followed by an expansion into the owner's Century City and Culver City assets, with the lat- ter location opening this past July 1. Like Ruddick, Dr. Mark S. Grossman, clinical professor of medi- cine and pediatrics and vice chair of UCLA Health's De- partment of Medi- cine, believes it is a natural fit to provide health services at the very centers their patients are already frequenting. "UCLA Health brought its patient care to Westfield shopping malls to provide visitors with extended-hours access to convenient primary care medical services and wellness edu- cation in a high-tech and consum- er-friendly environment," he notes. "Familiarity with location, ample onsite parking and the potential for walk-in patients are among the ad- vantages of opening a medical prac- tice within a retail center." A similar trend is occurring in near- by Silicon Beach. Lincoln Proper- ty Co. secured an 11-year lease with Cedars-Sinai at its Runway Playa Vista, a mixed-use project that has since been sold to Invesco for $475 million. The healthcare provider leased 32,000 square feet across three Matt Hammond Partner and Senior Vice President of Brokerage Coreland Companies Mark Schena President Arrayit Corporation Clare Collins Sales Associate Kennedy Wilson Mark Grossman Clinical Professor of Medicine and Pediatrics and Vice Chair UCLA Health's Department of Medicine Mike Conn Senior Vice President Meridian UCLA Health brought its patient care to three of Westfield's Los Angeles-area shopping malls to provide visitors with extended hours access to convenient primary care medical services and wellness education in a high-tech, consumer-friendly environment.

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