medical lease restructure & extension
  • client
    Crescent Neurology
  • Industry
    Healthcare Practice
  • Services
    Brokerage, Tenant Representation
  • Geography
    Sandy Springs
  • Asset Type
    Medical Office
  • Square footage
    2,700 SF
  • relationship length
    6 Years
  • Evaluate market conditions for an established practice in maximizing it’s real estate spend.
  • Assess whether relocating within the submarket or renegotiating the existing lease with improvements would be more advantageous for the practice.
  • Identify the available options in the submarket for comparison and to create leverage with existing location.
  • Determine most efficient space need to ensure consistency with future practice plans.
  • Engaged the existing ownership with proposal to extend the lease under improved economic terms.
  • Used leverage created by considering alternative locations to receive an aggressive new Rental Rate, a Tenant Improvement Allowance and Free Rent in a new lease term.
  • Reduction of current Rental Rate, equating to a savings of $40,000.
  • Achieved a beneficial Tenant Improvement Allowance to improve the patient experience in the current office.
  • Secured Free Rent to be used at the beginning of the new lease term as an added incentive.
  • Minimized practice expenses by securing fair rental rate in the current real estate market.

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