While the medical office market has remained strong despite the recession, at long last it's beginning to soften a bit, according to experts in the field. That may not be good news for physicians who own property, but it could be an advantage for practices that lease their space, they say.
Things have softened enough that brokers are going into the leasing business. In a recent blog entry, one Oregon-based consulting and management firm reports that commercial real estate agents are calling to let execs know that they are willing to work with physicians looking to lease.
Before moving, physicians should take stock of whether their medical revenue per square foot is adequate, suggests the firm, Vantage Clinical Solutions of Bend, OR. The firm says that the benchmark in medical collections per square foot is $341.61 for multispecialty groups and $284.26 for family practices.
To learn more about this trend:
- read item form The Healthcare Entrepreneur blog [1]
Related Articles:
Medical real estate still healthy [2]
Despite real estate woes, healthcare REITs doing well [3]
Links:
[1] http://www.vantageclinicalsolutions.com/blog/2009/03/02/medical-office-space-now-is-the-time-to-negotiate/
[2] http://www.fiercehealthfinance.com/story/medical-real-estate-still-healthy/2009-02-25
[3] http://www.fiercehealthfinance.com/story/despite-real-estate-woes-healthcare-reits-doing-well/2008-07-16