New Veterinary Office: MM, DVM
Summary
Crown Tenant Advisors helped a Veterinary practice get started and save a total benefit of over $87,000.
Challenge
- Assist Dr. MM with opening a new veterinary practice.
- Locate specific properties that could accommodate determined needs.
- Mitigate out-of-pocket expenses for a new practice.
Solution
- Provided five potential options for the practice.
- Leveraged the real estate market to encourage the landlord to provide an aggressive below-market deal.
- Negotiated an aggressive Rental Rate, Tenant Improvement Allowance, and Free Rent in the beginning of the new lease term.
Benefits
- Negotiated longer build-out time for practice.
- Tenant Improvement Allowance to be used to build out space.
- Free Rent Package to be used at the beginning of the lease term.
- Reduction of over $35,000 off the marketed Rental Rate over the term.
- Limited the personal guaranty for Dr. MM.