Of utmost importance to a medical building’s ultimate success is the recruitment of physicians. For medical office projects, our group will complement management, administration or business development to embrace and add value to the overall objectives of each project. Because we are acquainted with physicians, to which we have lent our professional lives, MREA maintains a vast working knowledge of how each medical business is positioned within Texas’ commercial real estate landscape.
Along with dedicated research, our leasing unit has developed a proprietary leasing program that connects physician specialties, their locations, potential hospital affiliations to assist in determining the size, location and ideal tenant mix within medical office buildings. Furthermore, our medical real estate leasing specialists are actively engaged in the process. We take note of the objectives for each MOB project and tailor marketing strategies, advertising, and public relations campaigns to champion physician prospects for each available space.
Our healthcare real estate group begins each assignment with purpose and direction which involves:
- A thorough understanding of the medical office market which includes competing hospitals, physicians, medical services, rents, operating expenses, improvement allowance, concessions and limitations.
- A firm comprehension of hospital healthcare delivery objectives such as use restrictions and tenant mix to determine how a medical office will meet the needs of the prospect with respect to the competitive landscape.
- Developing a plan of action based on a set of facts, assumptions and the objectives of stakeholders and comparing those to present market conditions.
This exhaustive analysis is essential to the most successful medical office projects. Our healthcare leasing unit’s preliminary due diligence enables our organization to properly position any property in the market to meet client objectives, as well as physician needs, all while preparing for future negotiations that will exist.
Because there are several parties involved in a successful medical office leasing program, communication is of vital importance. Our communication process involves frequent gatherings with key management, administration or business development executives and a detailed format for briefing on the status of our progress. This proprietary medical office leasing and communications process enables us to track tenant leasing progress, summarize the status of each prospect, provide next steps and assign responsibility. Our reports will provide a snapshot of the available square feet and that which is leased at any given point in time.
MREA is very open and considerate to incoming calls regarding medical office lease projects and would certainly appreciate the opportunity to vie for your existing, future development or acquisition projects.