Coastal Fertility
Irvine, California
Coastal Fertility leases new Irvine build-to-suit medical office space building
Project
Medical Office Lease
Industry
Medical
Size
13,000 SF
Location
Irvine, California
Challenge
Challenge
Coastal Fertility had outgrown its medical office space in Irvine and required a contemporary, high-image facility to reflect its corporate image and compete more successfully for patients. After independently searching for spaces, the process quickly became very time-consuming, confusing, and costly. Coastal Fertility realized it needed a professional to outsource this entire project, guarantying the best results, which was out of the principals’ area of expertise, as well as a major distraction from their business.
Solution
Solution
After analyzing Coastal Fertility’s business model and developing a real estate strategy for leasing a new medical office space facility, we conducted market surveys to identify all options. We also canvassed Coastal Fertility’s target area for suitable “off-market” opportunities. After canvassing landlords and inquiring with the City of Irvine planning department, an “off-market” development site entitled for medical office space development in Irvine was uncovered. We immediately negotiated with the owner to develop a state-of-the-art medical office facility at fair market rental terms with complete turnkey tenant improvements, providing a beautiful, move-in-ready, facility. We project managed the entire real estate process from start to finish, including building and tenant improvement design and construction, as well as identified and screened vendors for cost-effective phone systems and moving services, for a truly full-service real estate solution, at no cost to Coastal Fertility.
Results
Results
Coastal Fertility was delighted with its beautiful new medical office space facility, delivered on time and within budget, exceeding everyone’s expectations. Coastal Fertility was able to remain entirely focused on its business instead of avoiding the risk, cost, and hassle of managing this process alone. It benefited from premier building and street signage on Sand Canyon Avenue, dramatically increasing its market exposure and patient volume for many years to come.
“We started a process we called “just exploratory” to find out if there was a potential to find a larger and much nicer facility for our medical practice. Calling for the first time was a nice “non stressful” or “non-pushy” phone call. VoitWorks was professional, cordial and I knew from the first call that they would work hard for us. From that point on, their patience, honesty and diligence was impeccable. Before we knew it, our building was built and we were moving in. We are absolutely thrilled with the results and are very grateful to VoitWorks for their work, effort, trust and caring nature to see this through.”
Negotiated Concessions Include:
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$125 PSF Tenant improvement allowance
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Brand new build-to-suit medical building
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Exclusion clause against competing businesses
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10 year lease with multiple extension rights
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Building top signage
