Page 41 - Delaware Medical Journal - May/June 2018
P. 41
CASE REPORT
FOCUS FEATURE
useful report. If you’d rather do your own research, the American Academy of Family Physicians suggests using Census Bureau data for demographics, and Google Maps to scout out the density of competition.
Allow Ample Time. Real- estate experts vary in estimating how much time you will need. At a minimum, expect to spend six to nine months from the start of your search to closing on a space, says McGough.
Depending on the complexity of any build-outs needed to spend longer. “We generally advise tenants who are looking for new space to allow 24 months,” says Damon. “Most physicians are surprised by how long this can take.”
NARROWING YOUR OPTIONS
Consider Visibility. Focus on a building that is along a major thoroughfare and has adequate space for signage, Krulik suggests. The easier
it is for new and established
Don’t Forget Patient Convenience. As consumers grow savvier about their choices, patient convenience is increasingly important
for physicians, says Damon. Consider which amenities
are important to your patients, such as ample parking space, a covered entrance, proximity to major highways, etc. Proximity to hospitals is another important consideration.
Look For Red Flags. When you tour a space, check how well the building is maintained, says Damon. Are the bathrooms clean? Are there trip-and-fall hazards? Potholes or split
curbs in the parking lot? If the building is staffed, are staff members friendly and helpful? “Deferred maintenance, both on interiors and exteriors, can be a sign of a lack of attention ... or potential capital shortfalls,” says Kilian.
BEFORE YOU SIGN
Get References. If you know other physicians who have leased from the same landlord, now or in the past, give them a call. Talking to your peers may uncover issues you weren’t aware of, such as
a lack of communication with tenants, says Damon.
Evaluate The Total
Cost. Base rent isn’t the only likely have to cover some
or all operating expenses,
such as utilities, taxes, and common area maintenance, plus capital improvements. For example, if the space is not yourself with a pricey project on your hands, warns Krulik.
Build Flexibility into Your Lease. If possible, negotiate for an early-termination option, says Damon. If your new location doesn’t meet your expectations, or if you do so well that you outgrow your space, you don’t want to be stuck.
We’re Here for You.
Prof./Med. Ofc. Space
35786 Atlantic Avenue Millville, DE
+/-1,600 - 2,200 SF
Class A Med. Ofc. Space
1305 Old Bridgeville Hwy. Seaford, DE
+/- 1,500 SF
Limestone Medical Center
1941 Limestone Rd. Wilmington, DE
+/- 5.062 SF
Glasgow Medical Center
2600 Glasgow Ave. Glasgow, DE
+/- 1,475 - 6,812 SF
Springside Plaza
200 Biddle Ave. Newark, DE
+/- 450 - 10,662 SF
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For more info on these and other properties in southern Delaware contact:
Ann Bailey, CCIM AnnBailey@emoryhill.com
New Class A Med. Ofc. Space
1197 Milford Road Milford, DE
+/- 4,953 SF divisible
For more info on these and other properties in northern Delaware contact:
Dave Morrison, CCIM DaveMorrison@emoryhill.com
www.emoryhill.com
