NewQuest Properties has launched a full-service healthcare and wellness real estate division, expanding its platform to meet strong demand from the emerging "retailization" of the medical industry and the push nationwide to bring patient care and communities closer together.

Ashley Strickland, a vice president with NewQuest, has been selected to lead the healthcare group. At her side are Nick Ramsey, associate; Jeff Hayes, managing partner of Land & Tenant Advisory Services; and other leading professionals from the Houston-based brokerage firm's tenant representation, development and land divisions. In addition to expanding the firm's healthcare portfolio, the team will represent and assist providers, developers and investors to identify and implement real estate solutions.

"The 'retailization ' of healthcare is here. As we are seeing, the delivery model is shifting toward convenience-based care," Strickland says. "There is a need and an expectation for medical care closer to home. Retail and mixed-use projects have become the preferred option in high-growth markets like Houston."

NewQuest's Healthcare & Wellness Real Estate Division's inaugural project is a 150-acre campus redevelopment with HCA Houston Healthcare Tomball. Discussions are underway for the redesign and expansion of a 41-year-old campus, of which 70 acres are ready for ground-up development. The proposed campus design calls for a new fitness facility, retail, restaurants and medical office space to better serve the rapidly growing northwestern submarket.

"We bring a well-rounded approach to healthcare representation and have all the resources necessary to execute the full spectrum of the project," Strickland says. "Our strength is, and has always been, being a full-service, knowledgeable and experienced leader in brokerage and development."

As part of the new division's launch, Strickland represented Village MD Houston in its headquarters lease on the top floor of Carmel Park Office Building, 9235 Katy Freeway in Hedwig Village. She also is working with several medical groups to develop 30,000 sf-plus multi-service facilities in suburban communities as well as assignments with large hospital systems and other specialized providers.

Recently, Strickland's team completed a deal with a senior living group for a nine-acre tract in NewQuest's one-million-sf Creekside Town Center in New Braunfels, Texas. The 400-acre development features a 56-acre Resolute Health Wellness Campus with a 362,000-sf hospital, 73,000-sf medical office building, 21,000-sf fitness center, 13,000 sf of retail, more than a dozen restaurants, theater and multifamily units in an environmentally appealing setting. There is enough land to develop another 750,000 sf and a hotel.

"We are working with several senior living groups to open communities and facilities, including memory care, in Houston and select areas of Texas to meet the high demand of the 'Baby Boomer' generation," Strickland adds. "Regionally, we are underserved in terms of senior care. It is my hope we can help bridge the gap."

The NewQuest team has developed strong and tenured relationships with Greater Houston's major healthcare providers and will continue to grow its base even further. The firm has worked with Memorial Hermann, Hospital Corporation of America, Kelsey-Seybold Clinic, UTMB Health, Houston Methodist, Village Family Practice and Texas Children’s Urgent Care.

The healthcare and wellness real estate division offers a critical set of skills and resources needed to execute transactions: strategic planning, feasibility analysis, engineering and infrastructure design, site selection, lease advisory services, ground-up development for projects of all sizes and regional market knowledge. To date, NewQuest has completed 1.6 msf of transactions exclusively for medical use.