Category Archives: Medical Office Rental

Below is the archive of all blog articles related to the category “Medical Office Rental”.

Medical Office Lease Mistakes Doctors Forget About

Leasing a medical office can be a difficult process due to the liabilities and burdens that come with it. While the process can be laborious, it is important to maintain a checklist of important things to remember throughout the process. Because a doctor’s specialty is patient care, the legal and real estate components can be easily looked over. Medical office leases can also be very different from regular commercial spaces or residential leases. Below you will find some common mistakes doctors make during the process of leasing a medical office in Los Angeles.

1. Use Provisions

Because medical offices are much different than regular corporate offices or businesses, use provisions are necessary. Medical offices often require the use of X-rays, CT scans, and other machines that could have negative health impacts due to the radiation emitted.

Be sure to inform your landlord of all of the machines you will use and their respective uses. It’s important that you outline this in your lease agreement. This can help with avoiding any future liability later on if the landlord was not informed.

2. Americans with Disabilities Act (ADA)

A medical office may have more clients that have disabilities or need accommodations when entering the building. Be sure that the building is compliant with the ADA before you sign the lease.

While it is legally required to comply with the ADA, there are those who disregard the law. Patient care from the time they walk in until the time they leave is important. This includes safe access based on their specific needs.

3. Exclusivity Provisions

An exclusivity provision is a must in your lease. This provision means that the landlord will promise you that they will not lease any other space in the development to someone who would be in direct competition with you. If you have a specialization, be sure to have this provision clear and present from the outset. This ensures you are the only medical provider within the specific development. This can save you a lot of time and money in the long run.

4. Be Cautious

While a lease may seem like a pretty smooth transaction once you find what you think is the right space for your medical office, proceed with caution. The lease is the legal document that binds you which can ultimately be a blessing or a curse depending on who you are working with. Use caution when working with your landlord, their agents, or their attorneys. They are in the business of real estate to make the most money at the lowest cost to them.

Read the fine print, consult an attorney, and have someone at the table who is well-versed in real estate and medical office leasing to represent your interests. While you want to have a good rapport with your landlord to ensure a good working relationship, always use your best judgment and be cautious.

5. Landlord’s Right of Entry

While most leases have provisions for a landlord’s right of entry into the leased premises, this provision needs to be much more detailed for medical office leases. Medical offices hold so much personal and confidential data on their client’s which means that there needs to be a heightened degree of care when it comes to data protection and landlord entry. In addition, caution must be used when patients are in the medical office. Outlining specific times or notice requirements for entry is important and should be agreed upon in a signed writing.

While the list above is not comprehensive, it is a good start to get you thinking about what to expect when signing a medical office lease. If you are still feeling uncertain about what to do and want to enlist some support, Boulevard Medical Properties can help.

Finding Medical Office Space in Los Angeles

Boulevard Medical Properties has been helping medical professionals transition into new offices seamlessly for years. We have a dedicated team of expert real estate professionals that are happy to walk you through the process step-by-step.

What sets Boulevard Medical Properties apart from the rest is that we follow you through your entire lease to ensure that you are comfortable. Everything that is promised to you deserves to come to fruition. We walk you through the process of medical office leasing from start to finish which takes the fear out of the process as you are not left with no support after you sign the lease. If you need to find a medical office, contact Boulevard Medical Properties for excellent support and expertise during your upcoming transition.

What are the Different Types of Commercial Properties?

Beginning any new business comes with a set of foundational questions to ask yourself. One of those foundational questions is what type of building or space you’d like to build your business in. Choosing the right property for your business is essential in its ability to properly flourish. Before you sign that medical office lease, continue reading on to find out more about different types of commercial properties and choosing the one that is right for you.

Office

Office buildings are a very generalized commercial property that can vary on a wide spectrum. They are usually divided by urban or suburban environments. Urban offices are found in, you guessed it, urban neighborhoods or cities that are usually housed in high-rises or the like. They also tend to be a lot larger than suburban offices. Suburban offices, on the other hand, can be found even in residential looking buildings or in a group with other offices. Office buildings can also vary depending on their rank (Class A, B, or C). Class A buildings are regarded as the more premier office buildings compared to B or C. They usually have a great marketing presence and incorporate innovative building techniques or style. Class B buildings are considered the average among office spaces. They generally have a reasonable rent and are adequate as an overall building. Class C buildings usually offer low rent but are not considered the best in building adequacy.

Medical office buildings are another commercial property to consider among the office group. These properties often house private practice or group practices. In a group practice, several doctors come together to work together in providing their medical specialty. On the other hand, a private practice involves one doctor who runs the operation, though they may have some employees to help them with this. Medical office buildings are a very popular option for medical companies or private doctors. They offer many amenities at a good rate. For example, Boulevard Medical Properties in Los Angeles offers to take care of lease paperwork and wishes to work with you to provide your office with what you specifically need for your business to succeed.

Industrial

Another type of commercial property is an industrial building. Industrial buildings are usually frequented by several different tenants. These can house anywhere from basic industrial operations for manufacturing to bulk warehouses or an industrial & office space mix.

Retail

Retail properties are made up of retail stores, restaurants, etc. This can range from housing multiple tenants to single buildings. This can also include big chain stores such as Walmart, Target, etc.

Hotel

A hotel is another type of commercial property that people don’t often think about. Hotels can be a part of a chain, such as the Marriott, or an independent business. Depending on their status, they may offer anywhere from limited service, to full service with a restaurant and concierge. Casinos are also regarded as hotel commercial properties. Another type of hotel is an urban or resort located establishment like a bed and breakfast. This is regarded as a “boutique” and isn’t part of any larger chain.

Multifamily

Any type of residential real estate outside of a single-family home is considered a multifamily commercial property. This includes high-rises, mid-rises, a two-three story home (which is considered a “garden-style” property and walk-ups. Housing communities or low-income housing is also considered a multifamily property.

Overall, commercial properties are defined as anything larger than one house or lot. So whether you’re looking to lease a new medical office (contact Boulevard Medical Properties today!) or rent an apartment in a condo building, it’s all considered commercial!

Where to Begin When Investing in Commercial Real Estate

Have you been contemplating about finally investing in commercial real estate opportunities, but haven’t known where to start? Choosing to invest in larger properties can be difficult in the beginning, and it may require more work than you initially realize, but, investing in larger real estate holdings can also lead to an incredibly profitable outcome if you are successful. Find out more about investing in commercial real estate and how to get started with this informative guide from Boulevard Medical Properties. See all of the prime commercial real estate in Los Angeles with Boulevard Medical Properties today!

Are You Ready for Investing in Larger Real Estate?

The most important step to take when considering the investment of large real estate properties is thinking about if you are truly ready to take this larger step. If you have been proficient in managing smaller holdings, such as single-family homes or small store space, taking the next step may be a natural and beneficial move for you. However, if your real estate holding resume is just started to get built up, jumping to owning a large, commercial real estate holding could not be the most intelligent decision. If you are just beginning your time investing in real estate, start with smaller, more easily managed holdings and grow as you continue to learn and implement successful strategies for profits! After you have been successfully managing properties for a while, taking the next step to invest in commercial real estate will feel natural. This is still a great investment, and your priorities may need to shift slightly in order to successfully navigate a larger holding. Find out more information about commercial real estate in Los Angeles with help from experts. Call the team at Boulevard Medical Properties today to schedule a meeting with an agent!

Where to Begin with Your New Investment

No matter how long you have been investing or how successful you’ve been, investing in a new property is always exciting, and stressful. When you are deciding to invest in your first commercial real estate holding, it is important to make sure you have the appropriate amount of people around to help you with your decision. Purchasing a new investment can require a lot of time researching all your options, negotiating on a price and making sure it’s a good deal. Thankfully, there are companies like the Boulevard Medical Properties who can show you incredible options for commercial real estate in Los Angeles, so you don’t have to spend more time researching profitable options. Using a company can take the stress of research off your plate, but before you can consider purchasing a new building, you need to know how much you can reasonably spend without going over budget. You will also want all your funding in place before the closing date so that you can walk into every meeting with the confidence that you have the finances ready as long as you get the best deal possible.

When you’re getting ready to settle on a final deal and sign the papers, make sure this property is everything that you need it to be. If you are not completely happy with some aspect of the deal, you may not want to close the deal just yet. It can be frustrating to wait when you are ready to expand your investment interests, but it is incredibly important to be successful with your first large purchase of commercial real estate in Los Angeles. Consider every aspect of your deal including if the property is in the condition it should be, and if you are certain that you can be successful with this new holding. If you are confident in your decision, it’s time to sign! Get expert opinions and research help for your next commercial real estate purchase when you call Boulevard Medical Properties now.

Deciding on Your Medical Practice Setting

Whether you have the opportunity to start using your medical degree at an established facility, or begin your very own medical practice, it’s important to focus on the actual city and building you choose to establish your business in. Deciding on your medical practice setting as a whole is an influential aspect to your entire career, and what you want to do with your expertise. But making these large decisions on your own is not easy, so the experts at Boulevard Medical Properties are here to help you make important choices with a list of the best ways to determining the right setting for your practice. Find the best possible medical office space in Los Angeles with Boulevard Medical Practice today and start your journey to the medical career of your dreams!

Deciding on Your Medical Practice Setting

If you have been offered a few different potential jobs to use your medical expertise, it can be difficult to decide which setting is the right choice for your personal goals. However, choosing the right option can be a little easier when you think carefully about your true strengths and through evaluating your personal work tendencies. If a teaching job has been offered to you, consider whether or not the academic scene is a place you would fit in with easily. While the education of the next generation of medical professionals, extensive time off and other added benefits may be enticing, it may not be the specific field for you if you are interested in a career of applying your medical skills to real patients. If you have been offered a position to join an established medical practice where your skills would be applied to everyday patients, you would benefit from the consistent application of your expertise, but you also may be required to work longer hours throughout the year. Another great option is joining in on the creation of a new practice with a group of physicians, or beginning your own individual practice. Creating a joint practice with other doctors allows you to have partners throughout the start-up process, but any financial benefits would also be split between all members. In the same vein, creating a new practice on your own may benefit with more money, but all of the responsibility would fall on your shoulders. Find the right medical office space in Los Angeles no matter which setting you choose when you contact the experts at Boulevard Medical Properties today!

When choosing the physical setting for your new medical practice, consider a few factors about yourself and your business when making this incredibly difficult decision. The first factor is to think about whether or not your practice will offer a specialty in the field of medicine. If you and your team are certified specialists in an area of medicine, there may be parts of the country, or the state, where your skills would be more beneficial for the demographics. If you practice more pediatrician medicine, establishing a practice in a community of families is a great way to know that you will be able to give care to a larger amount of people. Take into consideration the kind of medicine you practice and do some research to see if your business would benefit from being in a specified area of the state or country. Another factor to consider when planning for a great medical practice setting is how many team members will be joining you in your medical efforts, and whether you would like to own or rent your building space. The number of physicians and support staff on your team will directly affect how large your office space needs to be, and whether or not you should consider buying or renting the buildings you are considering. Don’t attempt to find the perfect medical office space in Los Angeles on your own. Let the talented team at Boulevard Medical Properties help you find a great office space solution for your practice today!

It’s Time to Relocate Your Dental Practice, Now What?

Moving can be a pain in the neck, no matter if it’s at home or at work. Finding a new location, re-routing your address, and re-establishing yourself in a new location is a long process that often takes months to complete. Not to mention having to pack up all physical items and then later un-pack them, especially the heavy-duty machinery and delicate tools.

So, to avoid getting overwhelmed…what exactly can you do to make this process easier? How can you have the best chances of finding the right dental suites in Los Angeles?

If you’re at a loss for how to start the relocation process, our Boulevard Medical Properties professionals are here to help! Here’s what you can do to make the process of moving your dental process a bit easier for you.

1. Think About the Money

First, you should consider what you can do to save yourself some hard-earned money – both in the short and long runs. Moving can be costly, so let’s see what you can do to reduce these expenses once you’ve settled on a location.

One of the most important things you can do to secure your dental suites in Los Angeles is to negotiate a lease. This means speaking with your landlord and asking about discounts and rates rather than just blindly settling on a price.

You can also work with Boulevard Medical Properties to guarantee you the best rates and leasing terms available.

2. Plan Far in Advance

Another thing you can do to avoid a major headache is to make sure that your move is scheduled many months in advance. This gives time for yourself, your staff members, your patience, and your equipment managers to prepare in the best ways possible.

In fact, it’s recommended that you schedule your move as much as 2 years in advance, although one year will give you plenty of time as well.

Here are some tips for the best in-advance planning strategies:

  • Start inventory. Have your staff members help you take accurate inventory of the items and documents you have on file, so you know how many you need to account for when you move to the new location.
  • Give everyone the floor plan. Help everyone to familiarize themselves with the layout of the new office, so they can prepare for where they’re going to set up, how much room they have, and more. If possible, you can even schedule a tour of the new dental suites in Los Angeles to get everyone excited for the move.
  • Contact patients. This may be a no-brainer, but it’s essential to let all of your current, past, and future patients know about your move well in advance. Remind them repeatedly until it’s no longer news.

3. Ask for Help

You should not force yourself to handle this move alone. In fact, you shouldn’t be expected to. If you’re really in a pickle, just know that help is available for you. Not only is your team a tight-knit community that can provide support and assistance, but you also have the help of professionals in Los Angeles who can help you with the entire office search and leasing process.

Don’t wait too long to move in, either. And, if needed, you can stay in your old space and live out your old lease so that you don’t suffer a lapse in service with your dental practice. After all, there are still patients who need dental assistance, and you don’t want to lose their business!

Dental Suites in Los Angeles

If you’re trying to figure out where your next lease should be, and you have been thinking about moving your practice, get in touch with your local professionals today. We offer services and assistance for every part of the medical office leasing process. For more information, you can contact us online or give us a call at (818) 882-5700.

Negotiating Your Medical Office Lease

When you are getting ready to look for a new medical office space, it’s important that you know how best to negotiate with your future landlord. There are many facets that go into negotiations, and it is vital that you know how to navigate them all in order to make sure you are getting a good deal, and to avoid losing what could have been a perfect lease agreement. Find out everything you need to know about negotiating your next agreement for medical office rent in Los Angeles with this factual list from Boulevard Medical Properties. Call the professional team at Boulevard Medical Properties today to see how they can help you find the best medical lease for your practice!

Your Rental Term

The cost of your rental agreement is important, but the length of your rental term is a facet of the overall agreement that often goes unnegotiated. If the lease you find is too long or not long enough for your business to benefit, push for a better term length during your negotiations. If you do not properly determine the right length of your lease, you may end up spending more rent for a longer period of time than your business actually needs. You could also be locked into a lease that expires too soon and would result in your having to go through the process of finding another new lease.

Use Your Leverage

It’s important to be armed with the facts when negotiating, so be sure to do all of your research regarding rental costs in your area and be sure to start your lease search earlier than you need to, as the process can be lengthy, and you’ll be hastier if there is a time limit pressuring your decision. When you leave finding a new lease until the last minute, your negotiating time will be less productive, because you will lose any leverage you may hold against a potential landlord, as they know that you have to find a new space in time. Starting your search process early ensures that you will have the time to really sit and think over all your potential new leases and you have the luxury of negotiating until your new deal is perfect. Use any leverage you have, such as rate research, time to find other medical office rent in Los Angeles, and term limit research ready when you begin to negotiate with your future landlord.

Protect Your Business

In a last-minute situation, you may have to vacate the building you are leasing due to your business downgrading, or any other significant problems. If your lease does not include a clause that protects you from an emergency, you might end up still being fiscally responsible for the rent, even though you may no longer be using the space. Make sure there is writing in your lease that is designed to protect you from any emergency that would cause you to leave your lease early and avoid having to pay expensive rent when you are no longer utilizing the offices.

Get Legal

Always make sure you are running any potential lease agreement by your lawyer, or a lawyer who specializes in contract and real estate law. While you can read through a lease agreement, a professional can more carefully digest the information regarding the negotiations and make suggestions based on what they think a fair agreement may be. If you’re having trouble finding medical office rent in Los Angeles for a great price, contact the team at Boulevard medical properties today and let one of our qualified professionals help you find the perfect new space for your practice!

Most Important Things to Consider When Starting Your Practice

After you have spent enough time working in the medical field for someone else, it is natural to start thinking about opening your own practice to create business for yourself. Before you give your notice, however, there are a variety of important things to consider when starting your own practice. With this helpful guide, you can read all about what important questions you need to answer for yourself and what decisions you will have to make before you can make real steps towards opening your own practice. Find prime medical office rent in Los Angeles for your new practice when you partner with our experts at Boulevard Medical Properties today!

What Should You Know Before Starting a New Practice?

It’s common to be passionate about seeing your own patients and running your own schedule while working under another doctor or even team of doctors making these decisions for you. However, if you are planning to practice the same type of medicine that your current office offers in the same general location, you may be competing for the patients that are loyal to your competitor’s practice. If you feel that you have enough patients willing to follow you when you leave, then you can consider opening your own business in the same area. Alternatively, if you are planning to move away from your current practice, or are switching medical specialties, you will not be competing for patients, and you may even be able to work out a referring partnership with your original practice.

Starting any new business is an expensive venture, but businesses in the medical field can be exponentially more expensive because of the extra equipment that is needed to properly stock the office. On top of startup costs, you will have to cover the cost of your medical office rent in Los Angeles, equipment costs, staffing costs for a receptionist and any other doctors, and you will have to be able to run your business for a significant amount of time with no true profit. If you have not yet saved up the amount of money necessary to cover all these expenses, it may not be the right time for you to start off on your own.

When choosing a new office space for your medical practice, you will have to decide whether you prefer buying an actual building, or to rent office space. Both options have pros and cons, but most practices prefer to rent their office spaces to cut down on extreme costs, and for the flexibility of expanding or downsizing whenever they need to. Purchasing a building is preferable for businesses that are planning on staying in the same area permanently, and businesses that will want to lease or sell the building after they are done using it. Owning the building you practice in also gives you the freedom to operate your business however you’d like, whereas a leasing option would require you to answer to a landlord. However, if your business does not have the means to purchase a building, or the need for one, choosing to pay for medical office rent in Los Angeles is a much more beneficial offer. Your startup costs will be substantially lower, and your landlord will be required to maintain the full building for you, so you will never have to finance a cleaning or security crew. Choosing to rent also comes with the power to leave your office space should your landlord not agree to maintain the property to your liking. Find out what all your office space options are for your new practice when you contact Boulevard Medical Properties today. Let us help you find the perfect office solution for your new medical practice now!

Medical Space Available in Los Angeles Today

Whether you’ve just graduated from medical or dental school and are looking to open a new practice, or you just need an additional office space, you need to look no further than Boulevard Medical Properties. Finding the perfect medical suites in Los Angeles and navigating lease negotiation, design and construction can be a time-consuming and exhausting process. Boulevard Medical Properties has years of experience and specialty with medical facilities, and we can use our unique expertise to guide you through the process of finding the perfect medical space. From leasing to design, we’ve got you covered!

We Specialize in Managing Medical and Dental Buildings

Once you are in your new medical or dental office space, Boulevard Medical Properties offers you a team of real estate professionals who understand the unique demands of operating a medical office building. Our team of in-house property managers provide a specialized service to all our clients which makes us Los Angeles’ best choice for a new medical or dental lease.

Medical Property Search

Using the Property Search Tool on our website, you can view all the medical suites in Los Angeles that are currently available through Boulevard Medical Properties.

Take a look at this list of some of the most promising medical suites in Los Angeles, currently available at Boulevard Medical Properties!

Brentwood

Wilshire West Medical Tower

11645 Wilshire Boulevard, Los Angeles, CA 90025
There are five spaces available on this property, including the penthouse suite. Square footage ranges from 846 to 2,657 sq. ft. per unit. This is a Medical Office Building with a total square footage of 76,760 sq. ft. All spaces are available For Lease at a rate of $4.25/RSF/Month.

Los Angeles

Brotman Physicians Plaza

9808 Venice Boulevard, Los Angeles, CA 90232
There is one space available on this property at 935 sq. ft. This is a Medical Office Building square footage is 48,925 sq. ft. The space is available For Lease at a rate of $3.50/RSF/Month.

Samaritan Medical Tower

1127 Wilshire Boulevard, Los Angeles, CA 90017
There are nineteen spaces available on this property, ranging from 475 to 5,412 sq. ft. per unit. This is a Medical Office Building with a total square footage of 144,998. All spaces are available for Lease at $3.05/RSF/Month.

Northridge

Northridge Medical Tower

18250 Roscoe Boulevard, Northridge, CA 91325
There are two spaces available on this property, at 804 and 1,961 sq. ft. per unit. This is a Medical Office Building with a total square footage of 33, 731. All spaces are available for Lease at $2.80/RSF/Month.

Go Green!

At Boulevard Medical Properties, we encourage our tenants to “Think Green.” We set the bar as owners and property managers by doing our best to use eco-friendly materials in our buildings, and constructing new suites using the latest in energy efficient fixtures. Our move towards eco-friendly products and construction practices is designed to take your patient experience to the next level by making sure your space is as environmentally friendly as possible.
Boulevard Medical Properties is one of the premier experts in leasing, designing and constructing medical suites in Los Angeles. We understand that every medical and dental practice is unique. We have helped countless doctors, dentists and other medical professionals find the perfect space for them. Boulevard Medical Properties would be thrilled to have your practice as part of our medical community. Search Properties on our Website or contact us to get started!

Types of Medical Practices

Whether you are fresh out of your residency, looking to branch out on your own, or are looking to expand your current practice, there are a variety of medical practices to choose from. With each type of medical practice comes different responsibilities, elements, and benefits to consider. Although there are a multitude of factors to consider, Boulevard Medical Properties has made part of the process easier by being dedicated to connecting you with the perfect medical office space for lease.

Solo Practice

As its name suggests, a solo practice is a practice without partners or employment affiliations with other practice organizations. This type of medical practice allows the physician to have optimal control (i.e. deciding which patients they see, who they hire, hours they work, etc.). However, with a solo practice also comes some risk that other practices may not have. According to the American College of Physicians, “The locale in which you wish to practice will sometimes determine the success of a solo practice. Suburban or rural areas are often better suited for solo practice because of significant medical need and less competition from other medical resources.” That is why it is important to speak with our experts at Boulevard Medical Properties, because we understand what your practice means to you and can help you find which medical office space for lease is best for you.

Group Practice

A group practice is different than a solo practice because there is a presence of two or more physicians providing patients with one specific type of care. With a group practice comes the benefits of added financial security, not having to start from scratch, and added support from others on the team. This is a great option for physicians who are looking to play a significant role in the practice but want more safeguards and support in place. With a group practice comes the need more or room and a comfortable space for all your team members, staff, and patients.

Employed Physician Practices

This type of medical practice is when a physician is being employed within one of several practice models. Joining this type of medical practice can be advantageous to the physician by removing the administrative roles of the job and allowing them to solely focus on their area of expertise. You may relinquish even more of your control over the practice with this option, but you will not need to ever worry about the logistical problems. Scheduling, patient contact, accounting, and many other menial tasks are taken care of through employed physician practices.

Medical Office Space for Lease

Regardless of the type of practice that you chose, it is important that you choose the right place to set up shop so that you establish a successful practice. With investment in your vision, knowledge of the field, and “go green!” initiative, it is not hard to see why Boulevard Medical Properties are the experts when it comes to finding physicians the perfect medical office space for lease. To connect with their team and see what medical offices are available around you, contact them today.

Getting Started in Commercial Real Estate

The first step when planning to purchase commercial real estate in Los Angeles is to write down the type of property you are looking for. Will it be used as your place of business, as an investment property, or for something else? If investing, are you willing to put in the work to be a landlord? If you are looking for a business property, do you need to buy, or could you lease instead? Do you already have a location in mind? What is your status regarding cash, financing, and your ability to make a down payment?

To get your property search underway get in touch with Boulevard Medical Properties today.

Accept the Learning Curve

It will be easier for you to work with people in commercial real estate in Los Angeles if you learn some of the industry lingo.

  • Loan-To-Value (LTV): A ratio of how much money you’re asking from a lender vs. the total value of what you want to purchase.
  • Debt Service Coverage Ratio (DSC): Operating income over total debt service. Basically, how much of the debt you’ll be able to cover each year with income.
  • Capitalization Rate (Cap Rate): Income of the property divided by the total value of the property.
  • Cash on Cash: Annual income over how much you actually invested. The amount invested could be just the amount your down payment was.
  • Vacancy Rate: Percentage of properties that are vacant in a time period in a given area.
  • Ad Valorem: A tax based on the assessed value of a piece of property.

Consider a Variety of Properties before Making a Choice

When visiting the different properties, make note of what you like and dislike about each of them. Location can strongly influence a property’s value – as well as how fast it sells – and its importance cannot be emphasized enough.

What you’re looking for is a good “fit” on as many fronts as possible. You want a property in the right place, for the right price, that serves that right purpose.

Hire the Experts

Buying commercial real estate in Los Angeles can be complex. Depending on the type of property you purchase, you may need to hire an

  • Accountant
  • Commercial real estate lawyer
  • Commercial realtor
  • Mortgage broker
  • Tax expert
  • Notary
  • Appraiser
  • Engineer
  • Environmental specialist

There’s plenty you can do on your own, but some jobs just require expert knowledge to be done properly.

Figure out Financing

Most people need at least some financing help to purchase a property. You can use

  • Banks
  • credit unions
  • home mortgage companies
  • Also, think about what kind of credit you have and ask what interest rate the companies can give you
    If these traditional financing methods don’t work for you, find out if the seller can help. Read up on things like
  • seller carry-back
  • subject-to
  • second mortgages
  • lease options

Make an Offer!

When you are ready to make an offer, consult with your lawyer and tell him or her about your plans. Your lawyer will have you sign a Letter of Intent (LOI) about the property and all the contracts involved. The LOI is NOT binding.

Never sign anything without your lawyer reviewing it first. Have your lawyer explain what all written agreements mean to you in plain English (or hire an interpreter to explain in the language with which you are most comfortable.)

Due Diligence and Escrow

This is where you get down to the details.

  • You will order an ALTA (American Land Title Association) survey, which can be used as part of the due diligence.
  • You and the seller will hire an escrow officer to be the neutral third party in the sale.
  • The final closing documents must be produced.
  • You have the right to a final inspection of the property. If something negative comes up and you want to cancel the purchase, you have a right to tell the escrow officer to deny the transfer of funds.

If you are looking for medical and dental office space at prime locations in Los Angeles, the search is over! Boulevard Medical Properties has the space for you. From practices like USC Fertility and Perinatal, to State of the Art Imaging Centers and Community Clinics, Boulevard buildings are home to a wide variety of medical professionals – and we want to welcome you to our community! Contact Us Today to set up an Appointment!