Find a firm That Specializes in Healthcare
The Office Advisors are Atlanta commercial real estate experts. However, we do have specialty teams. One of the specialty teams we have is our medical experts. They focus on creating great relationships with many different verticals. We help private practice as well as large networks. Focusing on the client’s real estate needs is where we shine. The Office Advisors understands that it takes certain industry standards to get the job done. While you are searching around the world wide web check us out. Our website is easy to find and navigate. www.theofficeadvisors.com
Furthermore, we know that as a physician you are best utilized seeing your patients. The Office Advisors frees you up so you can focus on your business. Do not let the time-consuming task of searching for real estate fall on your shoulders. There are countless options available. Trying to sift through the locations takes hours of work. Those hours could be spent working in your business or with family. Moreover, we understand that Atlanta commercial real estate takes a specialized approach. That is why we have a team dedicated to medical office tenants and landlords.
Firstly, our team of industry experts knows what it takes to get the job to the finish line. We have helped many doctors with their Atlanta commercial real estate needs. Tim our number one medical broker gets it done. He recently helped his clients that are in the dental industry. When searching for locations for their emergency dental clinic they contacted Tim. He was scouring the Atlanta commercial real estate market for traditional liostings. After spending days sifting through locations Tim found a possibility. This location was not beeing currently marketed. So how did he get his clients in?
The Story of Getting in an Off-Market Location
Clients My Emergency Dental (M.E.D.) we’re looking for a turn-key dental practice to lease as they were starting their new company from existing practice. While scouting Cobb county, Tim Husted, Medical broker for M.E.D., stumbled upon a location that was either just opening or had closed due to the pandemic. After researching the space located on Lower Roswell Road, it was found the location had closed in June after opening in 2016 and was part of Sage Dental, a large practice with 50+ locations in multiple states. They had consolidated their 5 locations in Georgia to three but were still paying for the lease at the location.
Tim reached out to Sage to inquire about possibly subleasing the space, and to his and M.E.D.’s delight, they agreed to an assignment instead as the lease did not expire until 2026. However, there was a small problem. M.E.D. had a monthly budget in place and the rent escalation for Sage’s practice was set to increase next year by $2.70 a square foot, putting M.E.D. over their budget. Additionally, M.E.D. wanted to purchase some of Sage’s dental equipment to save on opening expenses. These purchases, along with purchasing the security deposit, totaled slightly under $50,000.
With the space being 3665sqft, Tim did the math on the rent increase for the remainder of the lease. Reviewing the total, he realized it was almost exactly the same cost as the equipment for purchase plus the security deposit. After reviewing with the clients, they agreed to propose a barter to Sage; in exchange for rent relief from the escalation, M.E.D. will take the assets and deposit instead of purchasing them outright from Sage. Would they accept it?
After a bit of negotiation, the barter was accepted! Sage Dental now was not locked into an unused space for 6 years and My Emergency Dental was able to lease an almost new dental practice and obtain the necessary equipment at a lower cost than purchasing new. In addition, because the assignment was off-market, it had no listing broker. Tim was then able to take a full 6% commission to the usual 4%.
Through our network of Atlanta commercial real estate individuals we are able to accomplish a lot. The Office Advisors has relationships with private equity groups. These private equity groups purchase many different types of Atlanta commercial real estate assets. One of the hottest asset classes is MOB. However, medical office buildings are extremely smart play. Investors have taken notice of a large number of factors as to why. One of them is the fact that health care needs are constantly growing. Medical professions are not going away anytime soon.
Subsequently, through our private equity relationships, we can do a lot. Not all Atlanta commercial real estate medical office buildings are existing. Furthermore, locations are popping up that were not on investors’ radar. These new hot location markets are just outside out of the city of Atlanta. Development of new office buildings is a great play. So contact to learn more about opportunities. We can
Moreover, we help in all aspects of your Atlanta commercial real estate needs. Whether you are looking to lease space, invest, or develop. The Office Advisors are the right choice for commercial real estate.
Now if you are not completely convinced that you should hire The Office Advisors, then visit our website. On our website, you can learn more about all of the services we offer for Atlanta commercial real estate needs. Also, check out our Google business listing. On here you can find reviews from customers and clients like you. 404-594-3028
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Sellect Realty of Georgia is our umbrella brokerage. 404-594-3028