South Florida Hospital News
Friday October 20, 2017
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September 2012 - Volume 9 - Issue 3

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Mink & Mink Helps Medical Professionals Avoid Heartburn During Real Estate Transactions

Buying, selling and leasing commercial real estate can be a complex, lengthy, time-consuming process. That’s why busy medical professionals should seek representation from a trusted, knowledgeable commercial real estate company that empowers them to make sound, informed business decisions.
 
“There is so much involving commercial real estate - in particular medical - that it’s very difficult to navigate through all the changing guidelines, new legislation, Americans with Disabilities Act (ADA) requirements and building codes without encountering potential zoning and legal complications,” said D.K. Mink, president of Mink & Mink, Inc., a 20-year-old Florida boutique commercial real estate company.
 
Mink & Mink specializes in sales, leasing, management and acquisition of medical, office, retail and industrial buildings. The firm, headquartered in Ft. Lauderdale, provides comprehensive commercial real estate services with a market-driven, client-centered approach.
 
“We are familiar with zoning issues and can provide research regarding each city’s requirements,” said Mink. “Our in-depth analysis of local trends and emerging markets, along with our familiarity with medical build-outs, helps us to put together sites, locations and rental rates to create a winning game plan for our clients.”
 
Mink, whose mother was a city planner, managed an apartment complex in North Florida during her college years. Initially planning to be a veterinarian, she began working with developers, bankers and facilities managers in South Florida, and eventually chose a career in commercial real estate.
 
 Building Owners and Managers Association (BOMA) of Florida honored Mink last year for her outstanding dedication and industry leadership. She has worked as the state legislative co-chair for BOMA, and recently coordinated an event sponsored by the Greater Fort Lauderdale Alliance to review new business-friendly permitting processes that 15 Broward cities have adopted.
 
Mink noted that her team of 15 professionals continually keeps pace with current market trends, pricing, terms and property availability to better serve their clients. They provide free surveys, set appointments to view properties and assist with lease negotiations. With its comprehensive market knowledge, years of experience and strong reputation, Mink & Mink provides clients with information they need to make the best decision.
 
“Zoning is the biggest area that a doctor going into a premise must consider,” she said. “They can’t go into just any office space because of certain zoning requirements. For example, a landlord may have thought his ground floor would be great for a medical practice, but the city might require additional parking for medical facilities. This could create the need for a zoning ‘change of use’ and possibly delay occupation of the suite.”
 
Mink offered the following tips for medical professionals seeking to buy, lease or sell commercial real estate:
• Verify that the property is zoned for medical use so an occupational license or business tax certificate and necessary permits can be obtained.
• Do not assume that zoning requirements in one city are the same in another city. Investigate the ADA and Health Insurance Portability and Accountability Act of 1996 (HIPAA) requirements relative to the desired floor plan set up before finalizing lease negotiations.
• Determine the financial health of the landlord. Is the property close to foreclosure?
• Develop a buyout procedure in case one partner decides to retire before the end of a long-term lease.
• Consider the best office layout. How many private offices are available and how large is the waiting area? If the practice expands, will the space be outgrown?
• Obtain a lease renewal with set terms so you will know what the rental rate will be in the future.
• Be sensitive to other types of businesses located in the immediate area that could be detrimental to your practice.
• Be sure to negotiate whose responsibility it will be to pay for improvements – the landlord or tenant.
 
“We help our clients find properties,” said Mink. “We check out the zoning and discuss possible concerns that may generate legal requirements ahead of time, so medical professionals may avoid legal disputes and costly delays. No one wants to get trapped in a five-year lease agreement, not be able to occupy the space, or have delays because proper negotiations were not obtained.”
 
Mink & Mink plans to add technology service enhancements by year-end to provide enhanced research capabilities, and will offer specialty websites for tenants. The firm will also expand its work with medical clients who are interested in promoting their services internationally.
For additional information about Mink & Mink, visit www. minkandmink.com or call (954) 771-1717.
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