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Medical real estate development ... It's all we've ever done!
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Site Selection and Capacity
DHP received a call from a past hospital client seeking ONLY a site recommendation based on site size and development capacity. This engagement will entail evaluating all available sites near the hospital and researching the local codes to determine what size facility can developed on each site. A report will be prepared that outlines the site acquisition costs, facility size, concept site plan for each site, total project size, and preliminary total budget.
Existing Office Park Evaluation
A past health system client of DHP was adjacent to a small medical office park. Due to physician retirement or relocations, the office park had become 30% - 40% vacant. In an effort to jumpstart the competing hospital from acquiring any available buildings, DHP was asked to evaluate the office park facilities, determine any renovation costs required and assess the anticipated purchase price for each facility. DHP prepared a schematic floor plan for each facility to test potential uses for the client, completed a market analysis, determined any related construction costs and prepared a comprehensive report that provided all the information needed for the hospital to make a decision as to how to proceed with the office park.
Whether you are looking at a new facility, evaluating an existing building or just need help in sorting through the myriad of issues surrounding medical real estate, physicians, or other variables; with a foundation of 6 million square feet, 32 years and 36 states experience, DHP yearns to share this knowledge with its clients. Having worked as a consultant, designer, developer, and design builder on medical projects from New York, Rhode Island, Florida, Texas, Kentucky and everywhere in between, our team brings a wealth of unique experience to your facility needs. Our personal experience includes hundreds of buildings providing space planning, leasing, development, project management, market analysis and all aspects of medical facility development, design and construction. Let us put this foundation in place to help support your next project in any number of ways. Outlined below are examples of current and past consulting engagements that DHP has provided to its clients.
Well in advance of engaging a developer, the hospital needed to verify if there was a project at all, and to what extent the physicians might be involved. DHP was engaged to only conduct physician interviews and market assessment to determine a) if there was even a project to be considered; and b) what size might the facility be and what site might be available. DHP prepared a report outlining the potential size, scope, ownership and site for the new project. This is done without a development agreement but only a consuting agreement, which provides the client an objective evaluation of need before calling developers.
Fair Market Value Lease Assessment
A former DHP client called to say that their potential new ASC partner was questioning the current rent on an existing ASC. DHP was asked to perform a FMV assessment of the current lease structure and terms. This effort entailed a market analysis for ASC rents, and evaluation of operating costs as compared to operating costs of several other local and regional ASC's. The exercise also considered construction costs, TI allowances and other factors in developing a comprehensive report on the FMV of the current center.