Chicagoland's Expert in the Dental/Medical Real Estate Market
Is it time for your practice to stretch its wings and move on from its current location? As a dental practice, there are many reasons to decide to move. It’s a growing trend among practices today.
Moving to a new space offers a fresh perspective while also providing one of the most effective opportunities to “start over” in terms of decor, technology and patients. Even if your move isn’t very far, the specific details of where your dental office should be located still matter. Before you look at the details of any lease, focus on the location.
What Factors Matter When Choosing Commercial Real Estate for a Doctor or Dentist?
When it comes to finding the ideal dental office, look outside of the lease terms and also focus on these key factors.
1. Population Levels
Moving your practice into an area that has a dropping population isn’t ideal. Rather, turn to a city and even a hyper-local area that has a growing population. Specifically, look for an area that is populated with the type of clients you want to attract. If you have a family practice, ensure the area is family-friendly. Locate near a senior living area, on the other hand, if your ideal patient is older.
2. Local Competition
Why burden yourself with having to compete against a highly successful, established local dentist? If you know the care provided in the area is poor, moving into that area can certainly help you to grow your organization. In most cases, though, you need to size up the competition before moving to ensure that it's not too difficult to find new patients.
You need to ensure there is plenty of patient parking available or if your client base needs it, public transportation in the area.
Most people don’t make unplanned stops at the doctor or dentist. However, if they find themselves in need of an emergency procedure and they’ve driven by your sign a dozen times, they are likely to recall your office name and contact you. Visibility from the road can help build your brand.
4. Ease of Access
There are two key factors to look at here. First, you need to ensure it isn’t hard to find a parking space. Traffic patterns and lights need to be conducive to helping your patients to navigate the area. Second, you need to ensure there is plenty of patient parking available or, if your client base needs it, that public transportation is available in the area.
5. The Building
Can the building handle your space needs? Does the layout work? Most important in today’s modern offices is having a space that can be upgraded to include the latest technology when needed.
All of these factors play a role in the decision process of where to locate your next office. You don’t have to make big commercial real estate decisions like this on your own, though...
At Joseph Rossi & Associates, you can get the support and guidance you need in selecting the ideal location for your practice, no matter the area, the expertise or the goals of your practice. Contact us today and let us work for you.
5 Key Factors That Matter When Choosing Commercial Real Estate
"Moving to a new space offers a fresh perspective while also providing one of the most effective opportunities to start over in terms of decor, technology and patients."