Tenant Representation

Location is one of the biggest factors to directly affect your medical practice.  A thoroughly researched market analysis can help you make a well informed decision regarding a move.  Here are some factors covered in a market analysis:

  • Demographics  Where is your target market?  A demographics report will indicate your target market’s population density for specific locations.  Proximity to your market can deliver a significant number of patients.
  • Competition  Can your current location provide your medical practice with a competitive advantage? What is the population to physician ratio?
  • Traffic counts  Do you need high traffic areas where people can see your medical sign?  Would your patients rather not fight heavy traffic and go somewhere else?  A traffic count will give you an accurate assessment of the roads near your desired locations.
  • Compare rates  How much extra would a space in that building next to the hospital cost?  Different lease rates in desired patient-rich locations will provide helpful price comparison information to help you decide on your location.

 

5 Tips to Finding your Perfect Medical Space

  • Identify business needs
  • Buy versus lease analysis
  • Specific practice considerations
  • Planning and critical thinking
  • Finding a commercial real estate agent