Page 40 - Delaware Medical Journal - May/June 2018
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COST, VISIBILITY, CONVENIENCE:
Tips for Leasing Medical Office Space
Tina Irgang Leaderman
Leasing a new practice location can seem overwhelming. How long will it take? What is the best location for your needs? How do you negotiate with a potential landlord to ensure you’re getting a good deal? We asked practice start-up consultants and commercial-real-estate experts for advice to help you cut through the weeds.
Castle County, where the vacancy rate is more than 14 percent, he says. Of course, there is variation at McGough, senior healthcare consultant with Provider Services Nationwide, LLC and a Realtor® with Keller Williams Realty.
FIRST STEPS IN YOUR SEARCH
Hire a Broker. “One of the a commercial-real-estate- expert ... to help identify all of the options available, provide valuable guidance through the entire leasing process, and to ensure the best possible terms are ultimately achieved,” says Neil Kilian, a principal at
NAI Emory Hill Real Estate Services, Inc. in New Castle. A broker who is knowledgeable on you lots of money. For example, a broker might be able to push the landlord to help pay for needed build-outs, lower the base rent
or include some of the utilities, McGough says. In most markets, your future landlord may cover your broker’s fee, adds Lorie Damon, managing director of the Healthcare Practice Group at
Study Demographics and Competition. As you ponder likely have questions. How much competition is already in that market? What are the payer mix and average household income among residents? Is there a large population of seniors, or are young families moving in? How much revenue can you expect six, 12, 18 or 24 months out?
These questions, and more, can be answered by a comprehensive demographic study, says Traci Krulik, a senior healthcare consultant with Provider consultant or broker likely has
a lot of data or can point you to
a company that will compile a
168 Del Med J |
May/June 2018 | Vol. 90 | No. 5
