Written by Matt Owens, Broker Associate
The importance of nutrition and maintaining an overall healthy self has been embedded in our day-to-day life. As consumers, we continue to find new ways to care for our well-being. This has given room for health and wellness related retailers to enter the marketplace or continue to expand. Whether it’s your doctor, exercise routine or diet, health and wellness oriented tenants have continued to make progress both nationally and locally.
Health systems are directing their patients to urgent care centers to better assist patient needs. The new concept is to keep people well rather than caring for the ill. Consumers experiencing minor symptoms can conveniently visit an urgent care center at a retail corner. Instead of waiting to get sick, consumers are making more frequent visits to the doctor. An increase in doctor visits is a contributing factor to the demand for more outpatient centers. Our desire to control our health and stay well gives room for medical related tenants to expand and do well. We see medical users such as Harken Health enter the market and Physician’s Immediate Care continue to expand.
Fitness centers fall under the health and wellness umbrella as well. After a long day of sitting at work, people continue to look for new ways to exercise or blow off steam. National tenants like LA Fitness are considered strong anchors in shopping centers but the smaller niche fitness centers continue to expand also. Consumers look for different ways to break their normal workout routine to maintain their well-being. Sproing Fitness, Orange Theory Fitness, and Crunch Fitness are all expanding throughout Chicagoland and have a unique twist on the fitness center experience.
Also, newer and healthier food concepts have continued to hit the market. Consumers are willing to sacrifice their wallets for better ingredients. Chipotle has continued to do well in recent years because they pride themselves on delivering quality ingredients and the importance of where their ingredients come from. They’ve been able to expand and create new concepts, like Shophouse, a Southeast Asian restaurant, with the same vision of transparency and better ingredients. Consumers want to know exactly what’s going into their bodies, which is why even McDonald's is removing antibiotics
from their menu as well. Healthier options such as: Protein Bar, Freshii, and Lyfe Kitchen have been able to do well with a transparent culture and better ingredients that people feel good about eating.
So, if you’re a health and wellness related retailer, now is a good time to expand.
Image of Physician's Immediate Care located at 600 West Adams Street in Chicago
Matt Owens | Broker Associate
Mid-America Real Estate Corporation
One Parkview Plaza, 9th Floor | Oakbrook Terrace, IL 60181
Direct: 630.481.4034 | Fax: 630.954.7304
firstname.lastname@example.org | www.midamericagrp.com