Medical Condos for Lease in the Washington Metropolitan Area
The medical condos for lease market in the Washington Metropolitan area is a fairly new phenomenon. It came out of the equally novel medical condos for sale trend, which seeks to bring a new level of convenience and control into play for doctors and other medical professionals. The “for lease” brings a different aspect, however. It’s the idea of medical investment properties on a boutique level.
Medical Condos for Lease in the Washington Metropolitan Area
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Office condominiums aren’t all that novel a concept in general. But medical office facilities are somewhat specialized, especially given the importance of location. When rent and purchase prices started skyrocketing, many physicians began looking into the investment potential and ultimate cost savings of owning their own office suites. This came with a bit of a hitch, however, as buildings on whole come at a high cost and existing office condos don’t necessarily exist in close proximity to hospitals and other major medical centers.
And so began the trend of commercial developers who sought to tap into this new market. That also begat the idea of individual investors who would then seek to lease out their medical condos in the Washington Metropolitan area. In some cases, these are doctors or medical specialists who purchase more space than they need, and look to lease out what is leftover. This can be a terrific opportunity for smaller practices that either seek an association with another practice or are simply trying to find a space that best suits their needs.
The movement toward developing medical condo buildings has also involved delivering contiguous blocks that are a benefit to the modern health care community. This includes facilities of a complementary nature, as well as offering physicians with private practices the ability to be nearby a hospital that they serve or have privileges at. It’s no surprise then, to see medical condos for lease cropping up in many areas of transition, including those outside of established urban centers. This is a segment of the real estate market that will continue to evolve and grow.