Healthcare Real Estate Is Gaining Attention
Healthcare real estate is attracting investor attention as the recession-resistant quality of healthcare real estate makes it an attractive opportunity for buyers of all types.
Marketing Tips
Market the Property Amenities or Improvements
Both prospective buyers and tenants want to know how a specific property will best benefit their medical practice. Landlords should list any property amenities, such as an on-site cafe or employee fitness center. Notable building features also include a covered entry or extra parking areas. Landlords should also highlight any property features that are receiving renovations during the time of the listing. If the mechanical systems are undergoing upgrades or the landlord has planned common area enhancements, prospective buyers or tenants may want to know.
Market the Locational Amenities
Is the medical facility surrounded by shopping centers and restaurants? Are there other beneficial healthcare facilities nearby? Patients and employees of a prospective healthcare buyer or tenant may select a healthcare practice based on location. Landlords should be aware of the local amenities that would serve their prospective buyers or tenants and include those in the marketing materials.
Highlight the Building’s Best Features
Landlords should review the building’s features and feature the top elements on the marketing materials. If the facility has a large nurse’s station, inviting reception or waiting area, or ample handicapped-accessible parking, these would be sellable marketing elements.
Marketing to Sell
Sometimes a health system or private physician decides it is time to sell their building. In this case, the building owner needs to consider who would be most likely to purchase their type of healthcare property. Occasionally to attract that buyer, the building owner simply needs to make a few value-adding upgrades to the property. It is also beneficial for the current tenants to have several years left in their leases. Investors would incur less risk in purchasing a property with guaranteed income for years to come.
Marketing to Lease
When a landlord is marketing a commercial healthcare space to a new tenant, they have a few extra considerations. The landlord needs to determine their answers to these questions:
- What type of healthcare practice is right for the property?
- Is the current buildout for the space conducive to a specific healthcare specialty?
- Are there any structural elements that the tenant would not be allowed to change?
- Does the facility have multiple vacancies? If so, can the healthcare spaces serve medical tenants that would benefit one another?
Answers to these questions can help landlords narrow down their marketing efforts to effectively attract a healthcare tenant that will truly benefit their property and the tenants in the surrounding facilities.
How Brokers Can Help
Healthcare personnel often don’t have the time to thoroughly review their real estate and create a custom marketing plan. Their first priority is to serve their patients, so finding commercial tenants or attracting a new buyer may become too overwhelming of a task.
Reputable healthcare brokers have resources to assist medical landlords. Their services include market research, developing a marketing plan, creating custom marketing materials, and listing the property. Healthcare advisory teams like HBRE also have tech resources such as Matterport 3D Imaging for virtual walkthroughs and email databases.
About HBRE
Headquartered in Nashville, Tennessee, HBRE is a full-service commercial real estate firm specializing in healthcare real estate. With over 50 years of combined industry experience serving 28 states across the U.S., we deliver exclusive healthcare solutions so you can provide the best patient care.
If you have any questions about leasing, buying, or selling a commercial property in Nashville or beyond, connect with our team today.
