WHEN IS THE IDEAL TIME TO DISCUSS MY HEALTHCARE REAL ESTATE NEEDS?
As a general rule, if you are a tenant or buyer, you should contact a healthcare real estate agent 24 months prior to your upcoming transaction to start establishing your course of action. You are always better to plan ahead and be a little early instead of too late, as timing plays a major role in identifying the top property options available and securing the best possible terms.
Because real estate is typically the 2nd highest expense for most healthcare practices, it’s important to give yourself enough time to create a thorough game plan to execute. Certain transactions can take a significant amount of time to complete, such as: ground-up construction or a ‘build-to-suit’ property. Alternatively, if you are considering a new or additional office, buying a business, company or healthcare practice, or if need more space immediately, simply start the process as soon as you can.
For more in-depth information, visit our blog series titled, “Timing Your Next Real Estate Transaction“.