A Real Estate Rx for the Healthcare Provider
Early in my career, one of my mentors used to always tell me to “be the doctor.” What he meant was, don’t be the type of broker that just presents options and doesn’t give the client your opinion. The analogy was, that if you go to the doctor with some medical issue or ailment, he or she will explain your options, but ultimately recommend a treatment.
Healthcare organizations are not like most other real estate users. Your organization has unique needs which affect both profitability and efficiency, and today economic and political factors are creating even more risk associated with your real estate decisions.
Read these Posts and Call Me in the Morning
Here are a few of my posts with a Healthcare organization in mind:
The Nuances of Leasing Medical Office Space
Medical users and physician practices don’t typically relocate to new buildings as often as general office tenants. However, the competition for new patients is increasingly steering physician practices to non-hospital campus properties as they seek more conveniently accessible locations for their patient base. This trend is evident in the increased development of smaller suburban medical office projects and urgent care clinics you see in any significant metropolitan community. Furthermore it is increasingly common to see healthcare providers take space in smaller community retail centers near hospital campuses… read more
Death and Disability Termination Options in Commercial Leases
I just this past week finished a transaction for a small law firm who was renewing their office lease and one of the final lease provisions that was negotiated was a death and disability termination option for the tenant. This was important in the event one of the two principals becomes deceased or disabled making it difficult or perhaps impossible for the tenant to continue to operate or meet its rental obligations… read more
Should I Own or Lease My Office Space?
This is a question I have heard many times from clients over my 20 year career, typically when lease rates are at historical highs or property values drop and begin to look attractive. I think without question that recent economic and real estate market conditions have created opportunities for corporate users to acquire properties for their operational use with attractive financial terms… read more
Healthcare Reform and CRE
Physicians, Hospital Systems and Healthcare landlords anxiously awaited the Supreme Court ruling which upheld the cornerstone of the Obama administration’s health-care law. In a 5-4 vote, the Supreme Court upheld the controversial individual mandate, saying the measure, requiring health-care insurance, was justified as a congressional taxing power.
We have already begun to see the commentary on the ruling’s impact on the healthcare real estate market and we will no doubt begin to see additional analysis in the weeks to come… read more
Healthcare Goes Suburban Retail
The retail health clinic and urgent care center market is growing rapidly as consumers prefer to have their physician, urgent care and ambulatory healthcare services closer to where they live. While medical office buildings on or near hospital campuses are still very much in demand, urgent care clinics and freestanding EDs are quickly popping up in fast-growing suburban areas located in shopping centers or freestanding pad sites… read more
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