Medical Real Estate
Whether you have one location or several, you need to understand cost, stability and flexibility. Medical lease contracts must be properly administered, periodically audited and systematically managed to ensure they support your business strategy.
Because medical office space users and physician practices don’t typically relocate to new buildings as often as general office tenants, they are not in the market as often. It’s also interesting to note that competition for new patients is on the increase and directing doctor practices to non-hospital campus properties for convenient access locations.
Here are some valid medical lease considerations before you make the decision to do it on your own or seek the expertise of tenant representatives who live and breathe this stuff.
Medical tenants use hazardous materials and biomedical waste, so special equipment is required and your lease must ensure compliance to these issues.
Medical tenants are on call for patient needs which can include all hours of the day or night. Property access is imperative.
A must for patients’ special access needs.
Medical tenants have restricted areas for health reasons. Access to these areas must be limited, even to landlords.
Compliance with ‘Safe Harbors’ under Federal anti-kickback laws must be understood and addressed in your lease.
This prohibits your landlord from any direct competition within the same vicinity of your medical lease.
If you die or become disabled, provisions within your medical lease absolve you from certain liabilities.
This can become complicated without addressing details in your medical lease. Everything from architects to contractors, to new vs existing walls, doors, etc.
If your tenant representative has access to these resources you are one step ahead.
So when it comes time to take on or renew a medical lease are you confident that you understand all of the moving parts well enough to make cogent decisions?
What Our Clients Say
Working with Chaz and HPRG was such a help. Expanding our healthcare business into a new market that we were unfamiliar with was challenging, but having people to work with who understand the market and our very specific needs as a dental facility made the process much smoother. We had many hurdles along the way, but HPRG was always there to help us over them. We will definitely work with them for our future expansion needs. They were very professional and attentive.
Mike Pugliese Chief Operating Officer at Kids Smiles
Chaz and Sara at Health-Pro did an excellent job finding the perfect office space for my needs. I own a private psychology practice, so I needed space that was not only professional, but had the right amenities to make it suitable for clients of all ages. Chaz was sensitive to my price range and ‘must haves.’ He assisted with the negotiation of the build out and lease as well. Highly recommend Health-Pro Realty to other mental health professionals.
Dr. Rebecca Resnik Licensed Psychologist
Negotiating lease terms is something no one learns in optometry school. Having Antonis and Chuck on my team for my first commercial lease negotiation was incredibly helpful. They were able to negotiate better terms than I would have on my own, giving me peace of mind and time to focus my energy elsewhere. They were both supportive and quick to respond to my numerous questions. Additionally, their services were provided to me at no charge as their fee is taken care of on the landlord side of things. I would recommend using them for any type of commercial lease negotiations for your optometry practice.
Nina Nghi Doyle, O.D., F.A.A.O. Crofton Family Eye Care
After two years of searching for a retail space in NYC for my start up dental office and dealing with many different real estate agents, I finally met Charles, who found me the perfect location in less than a month. Since day one, he was reliable, responsive, and very professional. He made this a much easier and pleasant experience for me and I highly recommend him and his team.
My professional experience with Charles Peacock has been nothing short of an exceptional one. His courteousness, his attentiveness and his confidence in lease negotiations has impressed me. There was never a feeling of hurriedness, but rather a feeling of patience and being forthright in the process. I would certainly work with Charles on any future endeavors and recommend others to as well!
Karen Benitez, DDS
We were extremely satisfied with Charles Peacock and his firm. He was very professional and thorough in assisting us in our search for new office space.
Melanie Hurwitz CPA Vice President, Lebson & Associates, P.A., CPAs
As I looked to open a new Dental office, I was faced with the challenge of finding the right location and a landlord that was willing to work within the economic terms I was comfortable with. Working with Darin Pugh of Health Pro Realty Group and Larry Baucom of the Greenwich Group made the process as seamless as possible. I am very happy with the location on Annapolis Road, just off the Beltway, and I was able to achieve the right economic terms to open our Children’s Choice Pediatric Dental Practice at the New Carrollton Regional Medical Center.
Dr. Jonelle Grant Children’s Choice Pediatric Dentistry
Charles was very helpful, insightful, and easy to work with. His calm demeanor and responsiveness helped us move along the process. His knowledge, expertise, and hard work helped us to find a space and to negotiate a lease in a space that we are very happy with.
Sangita Doshi, DDS
The transition from being an associate dentist to becoming a practice owner can be extremely daunting, and I wanted as much knowledge and experience on my side as possible during the process. I had the pleasure of working with Chaz and Chuck Feitel at HPRG, and their wealth of knowledge was invaluable in making sure I was making the right decisions. They routinely went above and beyond to explain the intricacies of their business in terms that anyone could understand, and were in constant contact with me whenever I needed advice. I could not be happier with my experience through HPRG, and would recommend them to any of my colleagues looking to start their road to practice ownership.
Liangkai Weng DDS Owner, Dental Designs of White Marsh
I highly recommend the Health-Pro Realty Group for its commercial realty expertise, particularly in finding and negotiating properties for medical and dental facilities.
I was directed to Health-Pro Realty Group by my local bank when I first began the process of starting my own medical practice. Charles Feitel and Bruno Santos of Health-Pro Realty Group were highly recommended as experienced real estate professionals with particular expertise in medical properties. I feel very fortunate to have worked with them in transitioning to my new medical space.
After reaching out to Health-Pro Realty Group, I was immediately impressed by their professionalism and promptness to my needs and concerns. I explained to them what my expectations were and what I was looking for in a medical space. I received an organized list of possible medical spaces available in the geographic area I was searching. They took into account all the factors that were important to me, including my budget and specific location needs. With their help and knowledge I was able to find a wonderful space to begin my start up medical practice, which is now thriving.
Not only did they find the space, Health-Pro Realty Group worked hard to negotiate a lease that contained the best possible terms for my new medical business. I credit the training and many years of experience the Health-Pro Realty Group team had in making the whole process stress-free. Not to mention that the team members were incredibly nice individuals that responded quickly to my questions.
Again, I cannot say enough in how grateful I am that I was referred to the Health-Pro Realty Group. I would unequivocally refer others to this team for any commercial real estate needs.
Dr. Carla Ribeiro-Bachtell
I have had two professional dealings with Charles Feitel and HPRG. With both I knew I was in the hands of true professionals. When we recently sold our condominium suites in a medical building, we dealt primarily with Sarah Feitel who did an outstanding job guiding us through complex circumstances always with a smile. I always felt HPRG was totally committed to achieve an outcome in our best interest.
Frank Gravino, M.D.
Finding a real estate agent who has experience in dental spaces is an essential step in opening a start-up dental practice. Charles Peacock came recommended to me by another dentist. At our initial meeting we spoke at length about the criteria I had for a practice location, and he told me more about the services he provides. From the first site visit it was apparent that he is well informed and thorough in gathering relevant information about each site. He knew all the right questions to ask. Once I found a property of interest Charles was a strong advocate in the initial negotiation with the landlord. The Letter of Intent was fair and favorable because of him. He worked closely with my lawyer during the lease negotiation moving the process along efficiently right to signing. I also discovered that because Charles has been in this industry a long time he has many contacts and was able to give me names and suggestions anytime I asked. I am very happy with the experience I’ve had working with Charles, and I would recommend his services to anyone in need of a real estate agent for medical/dental spaces.