D.K. Mink is president of Mink & Mink, Inc., a 20-year-old Ft. Lauderdale boutique commercial real estate company specializing in sales, leasing, management and acquisition of medical, office, retail and industrial buildings. The firm provides comprehensive commercial real estate services with a market-driven, client-centered approach.For many years Mink has been the state legislative co-chair for BOMA of Florida, (Building Owners and Managers Association). She was honored by that association last year for her outstanding dedication and industry leadership. Recently she spoke about a special BOMA medical conference featuring discussions of real estate strategies for integrated healthcare delivery facilities, along with sessions on aligning the interests of physicians and hospitals. Below she shares her insights, gleaned from what she learned at the BOMA conference.
“The typical medical building of the past is going away,” says Mink. “We’re going to see more outpatient, urgent care and wellness centers, along with free-standing Emergency Departments (EDs). These facilities are emerging as evidence of how preventative care has become the critical component of most systems’ strategies for driving down healthcare costs. Wellness centers, patient education and resource centers, and free-standing EDs figure prominently in those strategies. The idea is these facilities will serve as anchors in critical healthcare markets. After the patient base has been cultivated then additional facilities are added.”Hospitals and Physician Groups Refocus on Considering Space Options
Changing dynamics within healthcare delivery and the movement toward healthcare reform now shifts the focus to considering new space options. “We’re seeing that the emphasis on enhanced access and visibility for patients is driving physicians and hospitals to look at non-traditional real estate such as retail, repurposed general office and stand-alone facilities. It’s the savvy landlords and tenant-rep brokers who will pursue those opportunities.”
She continues, “What’s happened is that electronic medical records (EMR) and technology advances continue to open up space previously dedicated to medical records and files. Smart landlords should anticipate that changing technology will attract physician tenants. This trend points to greater emphasis on turnkey tenant improvements, as both hospitals and physicians will be concerned with adaptable spaces.
The centerpiece of healthcare systems’ overall strategies will continue to be healthcare real estate. The types of facilities that will be deployed will likely evolve in tandem with the evolution of care delivery models. Traditional medical office buildings that simply house physician practices will likely give way to facilities housing a variety of outpatient clinical procedures, wellness and perhaps even retail type tenancies.”Mink also reminds readers that new requirements from the Federal Joint Commission and the Florida ARCA are currently being developed to define new parameters for medical practices that will also affect medical facilities. There will be further considerations to think about in the near future. For example, sleep disorder facilities may require the entire small medical building be fitted with sprinklers. New Infectious diseases guidelines may be implemented beyond HEPA filters.
Yet Mink is confident that her company has the expertise to work with each state’s differing zoning laws. “We are familiar with zoning issues and can provide research regarding each city’s requirements,” says 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.”
She cites an example of a Physicians Group client with a soon to expire lease. The Group needed to find another space right away, and wanted 3,000 square feet of space. There were zoning, parking, and interior layout considerations, with an added need to have proximity to hospitals. After extensive research and reviewing many properties, Mink & Mink located the perfect match to the client’s 
needs and the lease on the new property was executed within 30 days. The Physician Group felt the space was absolutely perfect and found no need to even make changes to the interior layout.
needs and the lease on the new property was executed within 30 days. The Physician Group felt the space was absolutely perfect and found no need to even make changes to the interior layout.Another example of Mink & Mink’s ability to match clients and properties is a building previously used as a Substance Abuse Rehab facility, which had sat vacant for a year. After exhaustive research on zoning, Mink & Mink used its many networks and advertised the building for lease/with option to purchase. Within 6 weeks the owner signed a lease with an option to purchase, and a deal was constructed satisfying the owner’s need to receive rental income for several years before a sale.
The company’s 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, perform property inspections with prospects and conduct lease negotiations. With its comprehensive market knowledge, years of experience and impeccable reputation, Mink & Mink provides clients with the information they need to navigate 2013’s changing landscape in healthcare real estate.
