Los Angeles, CA

Here are 10 good reasons to enlist an advisor with medical office expertise when looking for an office for your practice.

1. Expertise.  You wouldn't go to a dentist for a colonoscopy, would you? You should use the same logic when deciding on a real estate advisor. Medical office advisors are experts in the medical office real estate market.  They understand current values and trends, know where the best office deals can be had and how to negotiate the best contract, know which landlords are good and which to avoid and they can assist in the navigation of the dreaded lease document. 

2. Financial Savings.  Whether it is through making your practice more efficient, decreasing your commute time to the office or simply negotiating a better deal on your behalf, medical office advisors can benefit your pocketbook by providing guidance to sound and sensible real estate decisions.

3. Services are free!  Medical office advisors do not typically charge a fee to physicians for their services. In the world of commercial real estate, agent fees are paid by the landlord of the building in a lease and through escrow by the seller in a sale.

4. Negotiation.  The current economic conditions have put tenants and buyers of real estate in the driver's seat and medical office advisors know how to capitalize on this opportunity.  Bottom line, there are great deals right now in every market in Southern California and a knowledgeable medical office advisor can leverage their expertise to achieve the best deal possible.

5. Space efficiency.  A good medical office agent can advise physicians on how to make their medical office space more efficient.  For example, they can help determine the correct amount of space needed, which translates into a more efficient bottom line. This decision alone can save thousands of dollars over the life of a lease.

6. Timing.  Waiting until the last minute to take action on an office move or to re-evaluate a lease with a rapidly approaching expiration can be costly. Start the process at least six months prior to a lease expiration. An agent can spearhead the process and get you orgzanized and ready for key date deadlines.

7. Understanding real estate needs.  Every medical practice has different real estate requirements and needs that will ultimately lead to a more efficient and profitable practice.  Good medical office professionals can ask the right questions prior to launching into a search for space and therefore not waste your time looking at the wrong properties.

8. Data and tools.  Medical office advisors have the data and tools required to provide sound real estate solutions, such as access to market statistics, lease rates, values, trends and the latest medical office availabilities.

9. Integrated services.  Through working with a medical office advisor, you will have access to sources for a wide range of other services that can make a practice more profitable such as architectural design, interior layout and decoration, office equipment and medical equipment suppliers.

10. Promoting your practice.  Medical office agents can advise you on how to best locate a practice based on current patient data and demographic information resulting in better patient retention and future practice growth.

John Wadsworth is Vice President for Colliers Healthcare Services.

About Colliers International

Colliers International is a global partnership of independently owned and operated commercial real estate firms. The organization's 12,749 employees span the world in 294 offices in 61 countries. On a worldwide basis, Colliers manages 1.1 Billion square feet, and has revenue of US $1.6 Billion. For more information about Colliers International, visit our website at www.colliers.com.

Contact Information

John S. Wadsworth
Vice President
Colliers International

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