WHAT ARE THE DIFFERENCES BETWEEN OFFICE VS. RETAIL VS. MOB (MEDICAL OFFICE BUILDING) SPACE?
While there are many classes, variations and vintages of office, retail and MOB space, the main comparisons typically boil down to: window lines and natural light, signage and exposure, cost, maintenance performed by the landlord vs. the tenant, building amenities, synergy or diversity of other tenants, parking, access and more.
For Class A properties, retail spaces often cost more, provide more exposure and signage, synergy of other diversified tenants who drive traffic to the center, easy access and more. Office spaces often provide more natural light and better window lines, lower cost, a traditional business setting, more assistance and maintenance from landlords, etc. MOB space provides a building or campus that is dedicated to healthcare professionals and often creates strong referral partners, synergies from healthcare related tenants, increased supply of janitorial and utility services, and often, other healthcare related amenities.
FIND AN AGENTWhen considering if your practice should stay or locate in an office vs. retail space vs. MOB space, your agent should help you fully evaluate all your top options, then provide a detailed breakdown of the pros and cons of each top property option and how they would positively or negatively affect your profitability.