Introduction
In drugstores, the pharmacists supervise the contentment of medical prescriptions and are available to advise the patients concerning the prescriptions and their general well-being issues. Nevertheless, some drugstores offer a specialized role, and these are identified as compounded pharmacies. Therefore, a compounding pharmacy is where the pharmacists fuse or alter two or more medicines to attain the patient’s specifications (Fox & McLaughlin, 2018). This procedure is for individuals who, for health motives, are incapable of taking Food and Drug Administration (FDA)-approved medications (Aruru et al., 2021). For instance, a patient who suffers from an allergy to particular additives, such as dyes, requires a unique medication to be created without them. Another good example is usually young kids who are incapable of swallowing tablets and require a medication that is in a liquid form. It is the duty of compounding pharmacists to ensure that the medicines of such patients meet their required standards.
As a strategy Officer, my organization plans to establish a compounding pharmacy in Las Vegas City. The name of the business will be Newcastle Compounding Pharmacy. Thus, I have been tasked with the role of looking for three best potential commercial or abandoned buildings to convert into a compounding business, and this process is identified as adaptive reuse. In light of Elrod and Fortenberry (2017), adaptive reuse entails identifying, acquiring, renovating, and putting back into operation a structure for a dissimilar work. That means this report will identify three possible buildings in Las Vegas and then provide the best recommendation on the best candidate to host the business.
Background Information of Las Vegas City
Las Vegas, always identified as Vegas, ranks as the 25th most populated City in the USA, Nevada State, and Clark County. This city contains the Las Vegas Valley urban center and is the biggest city positioned in the Mojave Desert. Vegas is globally recognized as the leading resort destination due to its popularity in gambling, shopping centers, nightlife, and entertainment (Travel and Discover 2018). Vegas valley boasts the primary financial, commercial, and cultural region of Nevada State. Moreover, currently, Vegas ranks as one of the most visited cities globally by tourists, and the region’s easiness for various types of adult entertainment has branded it the name Sin City, therefore making it a famous spot for literature, TV programs and music videos (Travel and Discover 2018). The population of the Las Vegas metropolitan has been rising ever since. Such as in 2019, this populace stood at 2.62 million; in 2020, it was 2.69 million; in 2021, it was 2.71 million; and as in 2022, it stood at 2.83 million (Las Vegas, Nevada Population 2020 (Demographics, Maps, Graphs), 2022). Another vital information concerning the city is its drug addiction rating. In light of a recent article by Gottlieb et al. (2021), in Vegas, meth, a highly addictive drug that negatively affects the central nervous system, is depicting increased overdoses. Thus, increased rug usage in the region calls for additional medications to help these victims cope with their conditions.
Competitive Landscape
The competitive landscape in Vegas is stiff, as the city has well-established compounding pharmacies. , one of the main competitors in Las Vegas is Welcare Compounding Pharmacy. This pharmacy has vast customers in Las Vegas and all the Southern parts of California, mainly due to its many products. In particular, the business offers veterinary compounding, dermatological compounding, dental compounding, and pediatric compounding. In addition, this business is known for its excellent services, customized dosing as we candied mixtures of different medications into single drugs, and allowing a solid customer base in Las Vegas (Compounding, 2022). The other main competitor is LifeCare Compounding Pharmacy, located in Vegas. This pharmacy ranks as one of the fastest-growing sole providers of specialty pharmacy, as well as an infusion, and acts in the entire Southern Nevada region. One competitive advantage is that the business has a wide range of products and services for its clients (About Us, 2022). The other main business in the region is Aeva Speciality Pharmacy, which was started in 2014 and offers various services, for instance, home delivery and compounding. The competitive advantage this business has is the ability to offer high-quality compounding medications to its customers at a low price and offer home delivery (About Us, 2022b). Besides, other regional competitive pharmacies include Solutions Specialty Pharmacy, ACRx Specialty Pharmacy, Las Vegas Scripts Rx, Phoenix Pharmacy, National Specialty Pharmacy, Meta Pharmacy Services, and Precision Specialty Pharmacy. From the assessment of the competitive phase, it appears that Vegas already has well-established compounding businesses that offer quality services to the residents. Thus, to survive in such a harsh setting, Newcastle Compounding Pharmacy will have to provide unique services and work at a reasonable price to attract more customers.
Adaptive Reuse Candidates
Candidate One: Copper Acres Industrial Park
Copper Acres Industrial Park entails a recently renewed and 40 percent occupied office and warehouse facility located in the southeast part of Vegas Valley. Located in a manufacturing designated zoned region, the site is adequate for organizations that require more power and an extensive warehouse. The site is ready for businesses looking for office and industrial spaces.
The renovated property entails an upgraded facade, warehouse skylights, and professional landscaping. It is also located in a thriving mixed-use community close to Sam Boyd Stadium (5220 Steptoe St, Las Vegas, NV 89122 – Copper Acres Industrial Park, 2022). Lastly, the price of this property goes for $13,500,000. In other words, this building was originally a warehouse, but it was renovated to include office-space businesses.
Candidate 2: 1030 W Lake Mead Boulevard
The above image depicts an abandoned family house located at 1030 W Lake Mead Boulevard, Las Vegas, NV 89106. The property sits in Vegas Heights, Tr, with a square foot of 6,098. Moreover, the house was built in 1965 for a single family, but currently, it is abandoned and put for sale for $80,000. The property boasts its backyard along a busy street in the busy community. The property is located in West Las Vegas, roughly 8 minutes drive from the busy city. The property’s community housing has a population of about 20,661 and is mainly made up of family members (1030 W Lake Mead Boulevard, Las Vegas, NV 89106 – 3 Beds, 2 Baths, 2022). Even though its old age, the building still appears solid, and its serene location could serve the residents of West Las Vegas.
Candidate 3: 3616 Perlite Avenue, North Las Vegas, NV 89030
This abandoned property is located at 3616 Perlite Avenue, North Las Vegas. Additionally, the structure of the building was created to be a single-family residence. Nonetheless, its unworthy condition makes it inhabitable. This property sits in 6,098 square feet of space. Based on its unworthy condition, the property lists $ 249 999. The building has lots of parking space and is located roughly nine minutes from Las Vegas City.
Conclusion
After identifying the property, rank them as follows: the marks given will be out of ten. The first property, therefore, gets a rank of 4, the second gets the mark of 6, and the last gets 9. These ranks have been given based on various factors, such as price, space, and occupants of the region. The ranks, therefore, place the third property as the most recommended. According to Elrod & Fortenberry (2021), irrespective of the progress in virtual, mobile as well as technologies, the delivery of care system is mainly site based, meaning that it needs a physical space where the providers can freely and effectively interact with the patients. Space matters occur very discernibly for the new care institutions just opening their services to their patients. However, they remain issues even when the organization progresses, particularly when patient numbers exceed space. From the above information, space is vital when establishing care facilities, even pharmacies. The third candidate is crucial in its ability to offer more space for the start and that room that will be required when expansion is required. Moreover, the property has enough internal space, whereby through innovation, it could be turned into an extensive pharmacy, such as having one room for mixing the drugs. In this other room, the patient meets the pharmacist, the waiting room, and the resting room. The property’s proximity to Vegas city also adds to its advantage, forgetting its growing population, ready to serve as customers.
References
1030 W Lake Mead Boulevard, Las Vegas, NV 89106 – 3 beds, 2 baths. (2022). ZeroDown. Web.
5220 Steptoe St, Las Vegas, NV 89122 – Copper Acres Industrial Park. (2022). LoopNet. Web.
About Us. (2022). LifeCare Medical RX. Web.
About Us. (2022b). Aeva Speciality Pharmacy. Web.
Aruru, M., Truong, H.-A., & Clark, S. (2020). Pharmacy Emergency Preparedness and Response (PEPR) framework for expanding pharmacy professionals’ roles and contributions to emergency preparedness and response during the COVID-19 pandemic and beyond. Research in Social and Administrative Pharmacy, 17(1), 1967–1977. Web.
Compounding. (2022). Welcare Compounding Pharmacy. Web.
Elrod, J. K., & Fortenberry, J. L. (2017). Adaptive reuse in the healthcare industry: repurposing abandoned buildings to serve medical missions. BMC Health Services Research, 17(S1), 5–14. Web.
Fox, E. R., & McLaughlin, M. M. (2018). ASHP guidelines on managing drug product shortages. American Journal of Health-System Pharmacy, 75(21), 1742–1750. Web.
Gottlieb, M. A., Daynard, R. A., & Friedman, L. C. (2021). Casinos: An Addiction Industry in the Mold of Tobacco and Opioid Drugs. U. Ill. L. Rev., 1711.
Las Vegas, Nevada Population 2020 (Demographics, Maps, Graphs). (2022). Worldpopulationreview.com. Web.
Travel and Discover. (2018). Las Vegas Full City Guide: The Entertainment Capital of the World Travel & Discover. In YouTube. Web.