A successful medical practice requires a great medical office space & location. Your location must be accessible to patients, allow you to establish and expand your services, meet your budget, and satisfy you personally.
Healthcare providers should take care to retain a tenant representation broker experienced in leasing medical office space. A medical office space tenant rep broker will help with the site selection (bringing more available spaces to your attention), and will understand how to structure a medical office lease so that the terms and covenants fit the needs of your practice.
Considerations for a Medical Office Space Search
- Prices vary from submarket to submarket, property to property. It pays to retain a tenant rep broker experienced in the local medical office space market to ensure you’ve found and negotiated the best deal.
- . If a doctor’s office is hidden away in a maze of side-streets, it will be much more difficult for patients to find him. Ideally, patients should have to make fewer than two turns to reach the office from the highway or another major traffic artery.
- New Property.
- Newer properties (and ‘medical’ office buildings) mean make a better on your patients, who may be spending a lot of money on your services. They are also more likely to include the necessary infrastructure for your practice.
- Good Parking Ratio.
- For practices seeing a lot of patients, a good parking ratio is a must – at least four to five parking spaces per thousand square feet so as to avoid overcrowding. Reserved spaces, dedicated handicapped spaces, pick-up and drop-off spaces are a plus.
- Proximity to Other Physicians.
- The ideal situation is for all neighboring practices to inter-refer, with 100% synergy and zero competition. Check out the practice mix to see how close to this ideal you’ll come.
- Ancillary Services.
- Ancillary services include sleep labs, MRIs, physical therapists, imaging centers, and outpatient surgery centers. Historically, hospitals have been the go-to for these types of services but recently doctors have been looking for places with extra office space where they can install these diagnostic areas.
- A lease clause that prohibits leasing to other physicians of the same or similar specialties.
- Signs that distinguish your medical practice or group are always an important feature. A developer can sometimes offer ‘top of building’ signs for their major or ‘anchor’ tenants.
Additional Resources for Medical Office Space
For more on medical office space best practices, read ‘5 Medical Office Design Ideas to Improve Patient Experience‘, “How to Lease Medical Office Space”, and “Doctor’s Guide to Finding Medical Office Space For Rent“.
Golden Group Real Estate specializes in medical office commercial real estate. For more on Golden Group Real Estate, read about our real estate services. Let us know if we can help you find office space for rent or buildings for sale. Call us at (630) 805-2463, email us at email@example.com, or enter your medical office space search criteria below.