Real Estate · Medical Properties & Agency Leasing

Specialized Leasing Expertise
Across Every Type of
Medical Real Estate Asset.

Medical office real estate spans four distinct asset categories — each with its own ownership dynamics, leasing strategy, clinical tenant requirements, and value-creation opportunities. Our team brings deep expertise across all of them, backed by an active healthcare network in every market we serve.

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86,400+
SF Under Management
4
Active Asset Categories
15+
Healthcare Specialists
$1.5B+
Platform Track Record
Asset Categories

Four Asset Types. One Expert Team.

Each category requires a different leasing approach, a different buyer and tenant profile, and a different value-enhancement strategy. Our advisors understand the nuances of all four — and bring the healthcare network to execute across every one of them.

Single-Tenant Retail Medical Multi-Tenant Medical Office Office-to-Medical Conversion Institutional Medical Assets

Single-Tenant
Retail Medical

Freestanding clinical facilities in retail corridors — urgent care, imaging centers, dental and specialty practices, physical therapy, and outpatient services in high-visibility, high-access locations.

Leasing Strategy

Retail-positioned medical tenants require visibility, parking access, and high patient traffic volume. We identify physicians and clinical operators whose patient demographic aligns with the surrounding retail population — maximizing both occupancy and rent.

Tenant Profile

Urgent care operators, multi-site dental and orthodontic groups, physical and occupational therapy, imaging and diagnostics, dermatology, and outpatient specialty practices with strong retail visibility requirements.

Value-Add Opportunities

Ground lease repositioning, pad site conversion to clinical use, retail strip medical repurposing, and NNN lease structuring for maximum investor appeal at disposition. Our clinical underwriting supports aggressive cap rate compression at sale.

Owner Advisory

For retail landlords with vacant or underperforming bays, we evaluate medical conversion feasibility — including infrastructure requirements, clinical tenant economics, and the NOI impact of a healthcare tenancy versus traditional retail.

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Multi-Tenant
Medical Office Buildings

Purpose-built or medical-converted multi-tenant office buildings anchored by physician tenants — the core asset class of clinical real estate investment.

Leasing & Specialty Mix Strategy

The right combination of specialties within a building creates a referral ecosystem that anchors every tenant and commands premium rents. We design specialty mix strategy around patient population, referral flows, and competitive dynamics — not just whoever calls first.

Clinical Tenant Underwriting

We evaluate physician tenants the way a sophisticated lender does — payer mix quality, patient volume trends, practice financial stability, physician succession risk, and specialty demand durability. Better tenants mean better assets.

Vacancy & Renewal Management

Proactive lease renewal management for existing tenants and targeted sourcing for vacancies — identifying replacement tenants whose specialty and practice profile strengthen the building’s clinical ecosystem rather than simply fill the space.

Building Value Enhancement

Strategic advisory on buildout allowance positioning, clinical amenity improvements, common area upgrades, and lease restructuring designed to increase net operating income and compress cap rates at disposition.

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Office Buildings
Converted to Medical

Traditional office buildings being repositioned into medical use — one of the most active value-creation strategies in healthcare real estate as conventional office demand softens and clinical demand grows.

Conversion Feasibility Assessment

Not every office building can be converted to medical use cost-effectively. We assess structural capacity, floor-to-ceiling heights, MEP infrastructure, plumbing stack locations, elevator specifications, and parking ratios before recommending a conversion strategy.

Repositioning Strategy

Phased conversion planning that maintains cash flow during repositioning — sequencing clinical buildouts, tenant transitions, and infrastructure upgrades to minimize disruption while maximizing the speed of NOI improvement.

Medical Tenant Sourcing

Our healthcare network produces physician tenants who are actively seeking medical-grade space — giving converting buildings access to qualified clinical demand that generic office leasing teams cannot reach.

Capital & Financing Advisory

Medical conversion projects require specialized financing structures. We coordinate with Clinical Investment to evaluate capital stack options — including physician co-investment and sale-leaseback structures that can accelerate conversion timelines.

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Institutional
Medical Real Estate

Large-scale healthcare real estate assets — hospital-anchored campuses, health system outpatient portfolios, and institutional-grade clinical facilities requiring specialized leasing and advisory expertise.

Health System Campus Leasing

Leasing strategy for hospital-affiliated outpatient buildings, medical campus developments, and health system-owned clinical facilities — where tenant mix decisions have system-wide strategic implications beyond individual lease economics.

Institutional Portfolio Advisory

For REITs, pension funds, and institutional investors holding medical office portfolios — leasing advisory that applies clinical market expertise to occupancy strategy, lease renewal positioning, and asset-level value creation across large portfolios.

Strategic Lease Structuring

Long-term NNN, absolute-net, and ground lease structuring for institutional assets — designed to optimize NOI stability, support investment-grade financing, and position the asset for maximum value at a future institutional disposition.

Healthcare Network Integration

Our active relationships with physician groups, specialty practices, health systems, and clinical operators across every market give institutional owners access to qualified tenants unavailable through traditional commercial leasing channels.

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Our Expertise

What Makes Healthcare Real Estate
Different — And Why It Matters

Clinical real estate requires a layer of expertise that general commercial brokers cannot replicate. Our team brings healthcare market knowledge, physician relationships, and platform intelligence that creates measurable value for every property owner we represent.

Active Healthcare Network

Direct relationships with physicians, practice administrators, health system real estate teams, and clinical operators across every market we serve. Our network produces qualified tenants before a vacancy ever hits the open market.

Clinical Tenant Underwriting

We evaluate physician tenants and clinical operators with the rigor of a lender — assessing practice stability, payer mix quality, specialty demand, and long-term retention probability before recommending a lease.

Platform-Connected Deal Flow

Clinical Advisory, Development, and Investment teams generate physician relationships continuously — creating a pipeline of qualified leasing and acquisition opportunities that flows directly to our medical properties clients.

Frequently Asked Questions

Questions We Hear Most Often

Substantive answers to the questions physicians and healthcare investors ask most frequently about this service.

What makes medical office buildings different from standard commercial real estate investments?
Medical office buildings (MOBs) have several characteristics that distinguish them from conventional commercial real estate. Physician tenants invest heavily in clinical buildouts — specialized plumbing, electrical, medical gas, and procedure-specific infrastructure — making relocation extremely costly and creating tenant retention rates significantly higher than standard office. MOBs also benefit from inelastic healthcare demand: patients visit clinical facilities based on medical need, not economic conditions, providing income stability through market cycles. On-campus MOBs adjacent to hospitals have historically traded at premium cap rates and maintained low vacancy. These characteristics make MOBs among the most sought-after net-lease investments in the commercial real estate market.
What is a net lease in medical real estate and what types are most common?
A net lease is a lease structure in which the tenant pays base rent plus some or all of the property’s operating expenses — taxes, insurance, and maintenance. The most common structures in medical real estate are Triple Net (NNN), where the tenant pays all three expense categories; Double Net (NN), where the tenant pays taxes and insurance but the landlord handles maintenance; and Modified Gross, where expenses are divided by negotiation. For medical office buildings, NNN leases are preferred by investors because they reduce landlord expense exposure and create predictable income. Long-term NNN leases with creditworthy physician tenants are among the most sought-after net lease investments in commercial real estate.
How do I evaluate the quality of physician tenants in a medical office building I am considering acquiring?
Physician tenant quality assessment goes beyond reviewing a credit report. Key factors include practice age and stability, specialty demand durability in the local market, payer mix quality (commercial versus government payer ratios), patient volume trends, physician succession planning (sole practitioners represent higher turnover risk), and whether the practice’s clinical infrastructure investment makes relocation prohibitively expensive. Our clinical underwriting evaluates all of these factors before recommending a lease or providing due diligence support — giving buyers a complete picture of tenant retention probability that standard commercial underwriting misses.
What is the process for converting a traditional office building to medical use?
Office-to-medical conversion involves upgrading a conventional office building’s infrastructure to support clinical tenants. The key requirements are: enhanced plumbing with clinical-grade drainage and water supply capacity; upgraded electrical service and panel capacity for medical equipment; HVAC modifications for infection control and clinical air quality standards; ADA-compliant patient access including corridors, restrooms, and examination space; and in some cases structural reinforcement for heavy imaging or surgical equipment. Not every office building is suitable for conversion — floor-to-floor height, column spacing, plumbing stack locations, and parking ratios all affect feasibility and conversion cost. We assess conversion viability before any capital is committed.
What cap rates are medical office buildings trading at in the current market?
Medical office cap rates vary by asset quality, lease term, tenant credit, location, and market conditions. On-campus MOBs adjacent to major hospital systems with long-term net leases and creditworthy tenants have historically traded at cap rates in the 5 to 6 percent range, reflecting their stability and institutional demand. Off-campus suburban MOBs typically trade at slightly higher cap rates of 6 to 7.5 percent depending on occupancy, tenant mix, and market liquidity. Single-tenant retail medical properties with NNN leases trade across a wide range based on tenant credit and remaining lease term. We provide current market cap rate benchmarks for every asset type we work with as part of our initial advisory conversation.

What Type of Medical Property
Are You Working With?

Whether you own a single freestanding facility or a multi-building portfolio, our team has the healthcare expertise and market relationships to help you maximize its value.

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