Local Retail Landlords Make Friends with Medical Office Buildings
Mid-Atlantic retail landlords are finally starting to be OK with medical office buildings in their shopping centers, says Health-Pro Realty Group’s Chuck Feitel, catching up to a trend that’s already well-established in the rest of the country. (Who would’ve thought, a dentist office next to a candy store.) He’s repping a medical tenant about to lease space in a national retail landlord’s Baltimore-area shopping center. That landlord understands that medical use is a service for a neighborhood but also that doctors and dentists are pretty darn creditworthy. Medical tenants themselves are seeking more visible, retail-oriented locations, too, Chuck says, especially the private practices as they try to compete with the major health systems.
Chuck also recently signed two different MedStar practice groups to 7,500 SF and 3,500 SF in Ellicott City’s Dorsey Hall Medical Center. MedStar now leases a third of the 35k SF building.