A successful medical practice requires a great location. Your location must be accessible to patients, allow you to establish and expand your services, meet your budget, and satisfy you personally.
Below are eight important considerations for a medical practice site search.
- Affordability. Prices vary from submarket to submarket, property to property. It pays to retain a tenant rep broker experienced in the local medical office market to ensure you’ve found and negotiated the best deal.
- Accessibility. If a doctor’s office is hidden away in a maze of side-streets, it will be much more difficult for patients to find him. Ideally, patients should have to make fewer than two turns to reach the office from the highway or another major traffic artery.
- New Property. Newer properties (and ‘medical’ office buildings) mean make a better on your patients, who may be spending a lot of money on your services. They are also more likely to include the necessary infrastructure for your practice.
- Good Parking Ratio. For practices seeing a lot of patients, a good parking ratio is a must – at least four to five parking spaces per thousand square feet so as to avoid overcrowding. Reserved spaces, dedicated handicapped spaces, pick-up and drop-off spaces are a plus.
- Proximity to Other Physicians. The ideal situation is for all neighboring practices to inter-refer, with 100% synergy and zero competition. Check out the practice mix to see how close to this ideal you’ll come.
- Ancillary Services. Ancillary services include sleep labs, MRIs, physical therapists, imaging centers, and outpatient surgery centers. Historically, hospitals have been the go-to for these types of services but recently doctors have been looking for places with extra office space where they can install these diagnostic areas.
- Exclusivity. A lease clause that prohibits leasing to other physicians of the same or similar specialties.
- Signage. Signs that distinguish your medical practice or group are always an important feature. A developer can sometimes offer ‘top of building’ signs for their major or ‘anchor’ tenants.
Healthcare providers should take care to retain a tenant representation broker experienced in leasing medical office space. A medical office space tenant rep broker will help with the site selection (bringing more available spaces to your attention), and will understand how to structure a medical office lease so that the terms and covenants fit the needs of your practice.
For more on medical office space design best practices, read ‘5 Medical Office Design Ideas to Improve Patient Experience‘. For more on finding and leasing medical office space, read ‘How to Lease Medical Office Space’ or contact us at [email protected] or (630) 805-2463.
Golden Group Real Estate represents tenants looking for office space in the western suburbs of Chicago. Contact us if you are looking for office space for rent in Aurora, Darien, Downers Grove, Glen Ellyn, Hinsdale, Lisle, Lombard, Naperville, Oak Brook, Oakbrook Terrace, Warrenville, Westmont, Westchester, Wheaton, or Woodridge. You can reach us at [email protected] or (630) 805-2463.
Photo Credit: “Wooden Numeric 8” by Stoonn Source: freedigitalphotos.net