Real Estate
Are your owned and managed practice office leases properly administrated / well managed? Do you need to consolidate the locations of these practices? Do you need to develop a professional office building for these or other medical practices?
MMA’s affiliate, MMA Real Estate Advisors, LLC (“MMAREA”), is a boutique real estate company dedicated to serving the commercial real estate needs of physicians and other health care providers. The real estate needs of health care providers are unique and MMAREA is uniquely qualified to meet these needs.
MMAREA services include
Tenant/Landlord Representation for Leasing
- Negotiation of a New Lease. Once a general market area has been determined the next step is to identify all of the properties that are capable of meeting the needs of the practice. Once identified it is important to solicit competitive lease bids from the various landlords to determine the best location, with the best pricing, and with the most favorable lease terms and conditions. This involves reviewing and negotiating the lease and assuring that all the necessary terms and conditions that are important to our client are included.
- Sub-lease of space from or to another entity. Sub-leasing space on a full time basis or as a time-sharing arrangement can often be the best solution. We have experience with proper documentation and defining the details of the business issues of sharing or subleasing space.
- Lease Renewal. Just like with a new lease the goal is to minimize the rent and maximize the tenant’s benefits which include tenant improvement funds to update or modify the space. The best terms are achieved by creating a competitive environment with the existing landlord and engaging a real estate broker to review and negotiate the lease.
- Office Relocation. A current location may no longer meet the needs of the practice. The new needs must be defined and knowledge of the properties that will meet the new needs.
- Office Expansion. Negotiating space expansion is as important as negotiating a new lease.
- Lease Administration. Accurately managing operating expense charges and negotiating issues between the tenant and the landlord requires experience and expertise.
Development or Redevelopment Consultant
- Selection of property manager office and/or site selection.
- Project budgeting and feasibility analysis.
- Facility design - building and interior space planning.
- Assist with arranging financing, including equity sources.
- Construction management.
- Third party leasing agent.
- Asset management services, including lease administration.
Site or Building Acquisition
- Identify and underwrite a site or a building for purchase and occupancy by a medical user.
- Perform and manage the “due diligence process” for the purchaser to avoid unexpected site improvement costs.
- Own verses lease analysis.
Facility Design
We have designed thousands of medical offices. We emphasize thorough programming of space requirements and understanding of patient and staff traffic flows prior to proceeding with design. We understand medical practices and are well qualified to translate a client's descriptions of spatial needs into functional, aesthetically pleasing, cost effective facilities. Our facility planning services include space planning, interior design, equipment planning, construction administration and project management.