OB/GYN Health Center Associates faced a lease renewal and negotiations were complicated by the fact that two of the physicians within the practice were part-owners of the building. The practice retained Cresa Albany to provide an arms-length transaction and professional perspective.
Cresa Albany carried out a space programming analysis to determine the client’s current and future needs and identified suitable alternate sites. A Request for Proposal was developed and distributed to landlords allowing term by term comparison of their response to the client’s specific financial and transactional requirements.
The Client’s landlord realized through Cresa Albany comprehensive research that a competitive offer was required to retain the medical practice. In negotiating the new lease, Cresa Albany secured a revised base year to lower the annual pass-thru obligations and included an early termination clause to allow for possible contraction.
“Cresa Albany provided our practice with services that saved us both time and money. Most importantly, Conley was able to assist our practice in negotiating an arms-length lease that benefited both the practice’s physicians that have ownership in the building and those physicians that do not.”
– Susan Padula CPA, Practice Administrator