Medical & Healthcare Real Estate in Michigan
Tenant Representation in Michigan
Michigan borders four out of the five Great Lakes, and is home to thousands of its own inland lakes – hence the nickname – Pure Michigan. For this reason, Michigan is known for its many outdoor activities including water sports like boating, fishing, kayaking, and more. Its geography is made even more distinctive by the fact that it consists of two landmasses: the mitten-shaped Lower Peninsula and the Wisconsin and Canada bordering Upper Peninsula. The two are connected by the roughly five-mile Mackinac Bridge, one of the longest suspension bridges in the world.
Michigan is the U.S.’s tenth most populous state, and is famous not just for its proximity to the Great Lakes but also for its automotive industry. It’s largest city, Detroit, is home to General Motors, Ford, and Fiat Chrysler’s headquarters, and thus widely regarded as the nation’s automobile capital. However, outside of the automotive industry, Michigan’s diverse economy also includes agriculture, tourism, and manufacturing. In recent years, the healthcare and medical device industries have also emerged as important sectors.
Although Michigan is known for Detroit’s motor city, Michigan has an array economic, culture and environmental landscapes. Grand Rapids is known for as the center for office furniture manufacturing and is named after the state’s largest inland river. As home to the University of Michigan, Ann Arbor bursts with pride for its Wolverines; it also happens to consistently rank as one of the best cities to live in the U.S. Additionally, the capital Lansing, also nearby to East Lansing, is the home of Michigan State University. Other notable cities include Kalamazoo, Battle Creek and Marquette.
From its wide variety of recreational activities to its attractive business climate, there’s no shortage of reasons to move to and / or open in Michigan. For those working in healthcare in particular, Michigan’s rising medical scene is especially plentiful with opportunity.
Michigan’s Healthcare Industry
From automobiles to plastics to furniture and more, Michigan’s deep manufacturing roots make it an ideal location for medical device companies. In fact, there are currently 383 medical device firms and more than 500 medical device manufacturers in the Great Lake State, including Stryker, one of the US’s top medical device companies.
The burgeoning medical device sector isn’t Michigan’s only draw for health professionals, though. According to U.S. News & World Report, the quality of Michigan’s hospitals and Medicare ranks within the country’s top 10. This is no doubt in part because Michigan’s hospitals are highly efficient, with 11.7% lower costs than the national average. Additionally, with 17% of the state’s workers doing something related to the medical field, the healthcare industry makes up Michigan’s largest employment sector.
In short, Michigan’s high population, along with its economic and healthcare infrastructure is more than welcoming toward medical practitioners and healthcare professionals. However, capitalizing on healthcare and commercial real estate transactions doesn’t come easily.
Whether you’re buying or leasing property, commercial real estate transactions are highly complicated–especially for those in the medical space.
With expert tenant representation services, you’ll have a medical real estate expert working solely on your behalf to secure the best space, in the most ideal location, along with the most favorable terms for your unique healthcare needs. For medical professionals in Michigan, that’s exactly what CARR provides.
Representation For Michigan Buyers & Tenants
From Ann Arbor to Detroit, Lansing to Grand Rapids, Saginaw to Traverse City and even into the Upper Peninsula, CARR’s expert tenant representatives are highly experienced and deeply familiar with Michigan’s commercial real estate market. With one of our exclusive healthcare agents, you’ll have a dedicated ally negotiating and advocating solely on your behalf.
Whether you’re planning to open a brand-new practice, relocate your current office, purchase commercial real estate, or begin a lease renewal negotiation, CARR’s goal is to help you achieve your practice’s facility objectives. To that end, our team of agents conduct extensive market analyses and track property trends to identify the best space and location for your needs.
Tenant representation is necessary to maximize savings of both time and money. A ‘do it yourself’ approach can cost you tens of hundreds of thousands of dollars and dozens of hours of valuable time.
You need expert representation for your unique interests. However, not any commercial real estate agent has the needed experience. Our expertise is specific to healthcare real estate and exclusively on the tenant and buyer side. This allows us to better understand and facilitate the unique requirements healthcare providers have for their office space.
Our team performs extensive due diligence on our client’s behalf in several strategic ways, including:
- Executing key market research and analysis of your current or potential space in order to accurately assess its market value in relation to other viable options
- Completing a thorough lease vs. purchase analysis to determine which path best suits the future needs of your practice
- Aggressively negotiating with multiple landlords to present the best deal and terms for our clients
- Assembling a team of expert partners to see your transaction through to completion
- And much more
Integrity and trust are foundations of how we do business at CARR. You can trust your real estate needs to our team of experts, knowing your best interests will always be first and protected.