CRESCO Real Estate was an integral team member for the largest behavioral health outpatient practice in the state with six (6) offices and two (2) acute hospitals.

Approach

• Conducted demographics audit to locate growth areas based upon assumptions provided in strategic meetings with the Client.
• Negotiated favorable terms with no out of pocket expense for tenant improvements, while allowing for substantially reduced rent for the first 24 months of occupancy.
• Maximized value to the Client by tracking trends of large institutional hospitals.
• Preformed a Lease versus Buy analysis for a 15,000 square foot headquarters in Beachwood, Ohio.
• Expertise in health care advisory services allowed for immediate understanding of sector.

Results

• Located six (6) out-patient sites and two (2) hospitals. Coordinated timeline ranging from 30 days to one year for site location dependent on Client’s time constraints.
• Client was provided a turnkey outpatient office site with a heavy office layout matching Client specifications, which included authorizing the use of therapy canines in multi-tenant office buildings.
• Expeditiously located primary sites as reduced costs by having a full understanding of market and growth of “business generators.”
• Coordinated acquisition, construction, architectural, zoning, and financing in a 120 day period resulting in a 20% reduction in occupancy cost per annum.
• Market insight allowed Client “first look” at acute hospital facilities prior to the competitions knowledge of site’s availability.