There was a time when drugstore chains took over local businesses, and we saw banks move into storefronts. But the latest shift in what’s moving into brick-and-mortar locations has been more surprising: a wave of boutique fitness and high-end wellness spots as rising demand for preventative care — and a boom in venture capital funding — is creating a new tier of healthcare.
Additionally, treatments and care that used to require a visit to a hospital can now be done in a small office adjacent to a grocery store, and hospitals are happy to save space for more expensive procedures. Outpatient volumes are expected to grow 10% in the next five years, leading existing medical providers to expand into suburban and Sunbelt markets to reach patients.
The demand has been pushing past traditional medical offices, with many clinics taking up space in former retail locations as brands have been suffering. That old Pier 1 site? It makes a great specialty clinic. Empty big-box superstore? Easily transformed into a medical outpost! And there’s a long list of new startups and franchises opening new branches catering to high-end clients.
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