The commercial real estate business can seem intimidating, particularly for those who aren’t as experienced in the ins and outs of the industry.
Evan Lewitt, Commercial Healthcare Broker with CBRE
Doctors face more obstacles in closing a lease than your average commercial tenant. Between additional parking considerations, compliance with the Americans with Disabilities Act and beyond, there is a lot at stake when picking the right commercial space for your unique practice.
We spoke with Evan Lewitt of CBRE about the benefit of working with a broker to find the right home for your new practice.
Here is what you can gain with the help of a broker:
This could very well be the strongest argument for getting a broker. It’s free for the person or group seeking the space, as the landlord wants to get vacancies filled ASAP. Landlords are happy to get bodies in the building, and they pay the broker to make this happen. This interaction allows access to buildings that physicians may not have found on their own.
Things like zoning and figuring out if you’re eligible to practice in a particular area are key elements that need to be weighed heavily when you’re thinking of opening up a new practice. Aside from the fact that a broker can make calls on your behalf and help find a location that meets your needs, they’ll help you track down a practice where, most importantly, you’ll be able to use your medical license.
Lewitt says brokers commonly deal with the city and understand that the needs of a therapist will be different than those of a plastic surgeon or a general practitioner.
You don’t want to get stuck in a lease that doesn’t allow you to practice your craft. A broker will ensure this does not happen. Aside from lease terms, here is a quick rundown on some of the things you’ll need to consider before the great hunt begins:
Because the landlord relies on the broker to fill up a big, multi-unit space, there’s some wiggle room at the negotiation table. Lewitt says the landlord may be able to negotiate lower rent or push for changes, such as new paint in the space, larger parking spaces and much more.
There’s a lot to gain by working with a broker if you’re trying to find a new home for your medical practice. While benefits include potential cost savings, it’s also makes starting your practice much more convenient. Searching for the right home for your new practice can be a daunting task, as it’s hard to find the time to look for the perfect location while trying to negotiate the terms of the lease, zoning, licensing and all the little things that don’t immediately come to mind.
Taking advantage of the resources available to you through a broker can help in your search to find your ideal office space at an affordable rate.
Click here to contact Evan Lewitt
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