Tag Archives: types

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!

What are the Different Types of Medical Practices?

When you’ve completed your medical schooling and are on your way to becoming a doctor, there’s another step you must consider: where to practice. There are many types of medical practices to choose from, which can be difficult as they each have their pros and cons. Below is a list of the most common medical practices today.

Group Practice

A group practice is exactly what it sounds like — two or more physicians who all work together in the same medical facility. This team of doctors shares all the work, including administrative roles. In the case of a group practice, it’s common to include professionals who offer different specialties. This gives these professionals the opportunity to consult others in their medical facility and refer patients to them if need be. Some other pros to working in group practice are: it cuts down on the physicians individual risk, your hours are shorter, and you have the ability to gain more capital. On the other hand, it also inherently takes away complete freedom for one individual doctor when it comes to how things are run. For example, if one of you wants to sign a medical office lease in Los Angeles and the other wants to purchase their own building, that is something you’ll have to come to an agreement on.

Private Practice

Private or solo practices involve one physician working alone with a small assisting staff. The biggest benefit of having a private practice is the fact that it gives you complete freedom to build your own company how you’d like. Physicians also tend to have a closer relationship with patients, which usually results in more referrals and more business. Another benefit to owning your own practice is that you’re able to set your own hours and the path with which you’d like your practice to grow. Physicians practicing alone usually opt into owning their own medical facility or signing onto a medical office lease. In Los Angeles, Boulevard Medical Properties not only handles all the lease paperwork, but they also work with each individual physician to create their perfect office environment. The downside to having a solo practice is that it often means more work and higher risk. It’s also common for private practices to be a bit heavy on the wallet, but there are ways around that, such as signing a medical office lease in Los Angeles.

Hospital-Based Work

Perhaps the most commonly known medical practice is hospital work. When working for a hospital, doctors can choose to work for a practice that is owned by the hospital or work in a separate department. Some benefits of working for a hospital are that each physician is provided a salary, has a regular work schedule, and a steady patient base. They are also less liable for complications, meaning their legal risk is low. Working in a hospital does have its drawbacks though, namely a lack of freedom as physicians are required to meet hospital standards. Also, because they are seeing many patients at a time, there is a lack of connection between them, proving to be less fruitful.

HMOs

HMOs, or health maintenance organizations, are the other commonly known medical practice. When working for an HMO, your patients are those that are members of that specific HMO. Much like a hospital, a physician is an employee or independent contractor of the HMO and will have to follow certain rules or guidelines set out by the organization. Some benefits include steady pay and a regular schedule, but the lack of freedom is perhaps even greater than working for a hospital.

Locum Tenens

Locum Tenens refers to physicians re-locating and working in areas that are in dire need of medical help. This type of position is very flexible, as doctors may choose where and when they’d like to offer their assistance. Other pros include high pay, lower living costs, and the ability to travel and explore the area they’re working in. Obstacles for this type of practice are that the work is temporary, meaning a lack of steady work and that benefits are not always offered.

Deciding what environment you’d like to work in requires that you study each type of practice carefully. Do you want to work for others in a hospital, travel the world, or work alone in your own medical practice? Would you like to own your own building or sign a medical lease in Los Angeles? These are all important questions to ask yourself. If you’re looking to start a medical practice and want more information on medical properties, please visit the Boulevard Medical Properties website today to see what we have to offer.

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.