Weekly Health Care Real Estate Briefing: The Best States to Conduct Business I Hoag Hospital and Roper St. Francis Announce $1B Campus Projects I Bidding War in Scottsdale, AZ

1. Site Selection Magazine released its 2022 Business Climate Ratings. The top 5 states in terms of business climate were: Virginia, Georgia, Texas, North Carolina and Arizona.
2. Roper St. Francis announced plans to invest $1 billion to build a new hospital campus in North Charleston, South Carolina. The campus will include a full-service hospital, medical office building and several specialty health care facilities.
3. Hoag Hospital announced plans to invest $1 billion to build out its Sun Family Campus in Irvine, California. The plans include six buildings, including two specialty hospitals focused on cancer, digestive illnesses and women’s health, along with office space and support center space.
4. Tulane University announced plans to invest $600 million to repurpose a portion of the abandoned Charity Hospital in New Orleans. The plan involves repurposing 1/3 of the roughly 1 million square foot hospital into what will become Tulane’s School of Public Health and Tropical Medicine.
5. Hall Render attorney Andrew Dick recently published the following health care real estate articles: 5 Concepts That Are Often Overlooked in Letters of Intent for Sale-Leaseback Transactions; 7 Tips for Negotiating Commercial Listing Agreements; and 5 Tips for Hospitals to Consider When Hiring Valuation Professionals to Opine on Market Rents.
6. Over 170 ASCs have either been announced or opened in 2022.
7. Banner Health and Honor Health ended up in a bidding war for 48 acres of land in Scottsdale, Arizona. Honor Health prevailed with a final bid of $84 million dollars.
8. Providence has elected to close 27 of its ExpressCare Clinics in Southern California, citing labor shortages, inflation, supply chain disruptions, lower-than-expected volumes and competition in the marketplace.
9. USDA issued a $108 million dollar grant to assist Citizens Health with the construction of a new hospital in Colby, Kansas.
10. Jackson County, Mississippi officials have formally announced plans to sell its county-owned health system, Singing River Health System, which includes 3 hospitals. The county will be accepting bids up until March 10, 2023.

Special thanks to Thomas Dziwlik, undergraduate intern, for his assistance in the preparation of this article.

Hall Render blog posts and articles are intended for informational purposes only. For ethical reasons, Hall Render attorneys cannot give legal advice outside of an attorney-client relationship.

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