Case Studies

A Dermatology Practice Leases, Then Buys, In Royal Oak, Oakland County

The Situation

When Dr. Bryan Sofen—longtime friend, neighbor, and newly minted owner of a dermatology practice—reached out to us, he had just stepped into ownership with a lot on his plate.

• The existing practice had an expiring lease with just one year remaining.
• The location had served its purpose, but Dr. Sofen was ready to take the next step: a more modern space that reflected the high-quality care he envisioned delivering

• Rather than rushing into a long-term decision, we started by extending the existing lease by one year. This gave Dr. Sofen breathing room—time to explore the market without pressure, and leverage to negotiate from a position of strength.
• While surveying the market, we uncovered a promising property listed for lease—well-located and ideal for a dermatology buildout. After deeper discussions with ownership, we learned the building was held in a trust and could not yet be sold. A future sale was possible—but only after a specific triggering event occurred.
• Instead of walking away, we crafted a strategy:
  • Negotiate a five-year lease with favorable terms
  • Lock in future purchase terms in writing—ready for execution the moment the trust could sell
• This creative structure gave Dr. Sofen access to the space now, with a plan in place for eventual ownership.

The Solution

• Construction began—and not long after, the triggering event occurred.
• Because we had already negotiated the purchase terms, Dr. Sofen was able to close on the building quickly, without renegotiating or losing momentum.
• Even better: the deal closed before the free rent period ended, meaning the space was under construction, rent-free—and now his to own.

Dr. Sofen opened his beautifully transformed dermatology office in the heart of Royal Oak in early 2025.

• A completely renovated, modern clinic
• Built out with no rent paid during construction
• Purchased on pre-negotiated terms, without delay
• And best of all—ownership of a property that aligns with his long-term vision

Congratulations, Dr. Sofen!

This deal required patience, creative thinking, and the right team to navigate the complexities. By extending the lease, identifying the right opportunity, and structuring both lease and sale terms in advance, Mirlo was able to simplify the path forward—so Dr. Sofen could focus on building a practice he’s proud to call his own.