Dr. Zamarippa and Dr. Almany were in a time crunch. The veterinary clinic that they were practicing at had just been bought by a larger company and the doctors had a deadline by which they needed to re-sign, start applying for other jobs, or start their own practice. The two wanted to step out on …
Dr. Roundy had about 14 months left in his medical office space lease and he needed to give notice to his landlord if he wanted to renew, but he wondered what his other options were. Do I want to stay or am I missing out? Should I move to a medical office condo? Should I …
If your lease is coming to an end and you’re debating whether to renew or buy, you’re asking the wrong question.
As a medical entrepreneur, investing in real estate for your office is likely to be the most crucial decision you’ll make during your career. After years of balancing school and life decisions, making another enormous investment in yourself is a huge accomplishment that also comes with a lot of stress.
Clients frequently ask me if they can receive money from their landlord to help them update or refresh their space. The answer is yes, and it’s a lot more than you might imagine. The money is known as the tenant improvement (TI) allowance and it’s negotiated by a broker on behalf of the tenant in …
TI Allowance and Lease Renewal – Why It’s Worth Engaging a Broker Read More »
There’s No Perfect Deal, But… With employees still working from home this quarter, traditional office buildings have copious amounts of vacant space. Small offices are now zooming instead of commuting and/or are downsizing as their spaces come up from renewal. Medical office tenants, though, are stable businesses, provide essential services, and are in an excellent …
Silver Lining With employees still working from home this quarter, traditional office buildings have copious amounts of vacant space. Many businesses used the pandemic to press pause on leasing decisions. This has offered a silver lining to medical office tenants, which are stable businesses and provide essential services. Doctors are in an excellent position to …
Office Demand Is Low – Here Are The Numbers: A line graph from Co-Star displays the availability rates climbing in office buildings. Leasing volumes were down more than a third in 2020 compared with 2019, as tenants delayed leasing decisions during the pandemic. Low Demand In Office Is Good For Tenants With employees still working from …
While not often discussed explicitly when searching for a location, the real estate you choose for your practice can have a significant impact on the value of your practice in a sale. Real Estate is One of Your Largest Fixed Costs Real Estate is Typically the second or third largest cost for a practice behind …
How Your Real Estate Choices Affect Your Practice Value Read More »
You put your practice on the market, found a buyer, negotiated a proposal, and signed a purchase agreement. A win win for buyer and seller. But wait, the landlord must agree to the whole deal? Yes, as frustrating as that sounds, a totally uninvolved 3rd party must consent to your lease being assigned to the …