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The Perfect Timing in 2024
What does your year look like ahead?
Is 2024 a year to pay attention to your or your clients’ commercial real estate plans? We are all aware of the rising interest rates, but on an individual level, your calendar for this upcoming year may need to include real estate decisions, regardless.
As we tell all our clients, timing the process perfectly drastically widens the path to success.
With the proper amount of time, a business owner can strike the right balance of receiving competitive offers while not feeling rushed when making a very important business decision.
So, what does the perfect timing look like?
Too Early
Starting the process too early may cause the landlord or seller to either propose an unfavorable offer to a business owner or just simply decide they are not ready to negotiate yet, despite spending lots of valuable hours evaluating the market. They do this, because they know there is still plenty of time and do not feel any pressure yet.
Too Late
More often, the issue with timing is beginning too late. Unlike residential transactions, commercial transactions take several months from start to finish. If not enough time is available to work with, the business owner may feel backed into a corner, either settling for a property they are not particularly excited about or being forced to pay much more in rent or give up important concessions. The more viable options available for a business owner, the more picky they can be to hold out for the perfect space and the perfect deal.
Just Right
Timing the first step too early is preferred over being too late, but there is a sweet spot to provide the most amount of leverage. Business owners should begin most transactions – including new locations and relocations – 10-12 months prior to the target move-in date. However, for ground-up construction, the process should start 12-18 months in advance.
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What Our Clients Are Saying
Remy was very helpful and straight forward with me about the challenges of starting a practice. He kept me well informed and was very proactive, a professional in every aspect of the real estate business. I could not have navigated this process without him; I will definitely use Remy for our future growth needs.
Dr. Kevin Semma, OD
Remy has been an indispensable part of my journey to build a veterinary practice. I had another commercial realtor that was not familiar with veterinary profession when Remy reached out to me. When I decided to stay with my previous realtor, Remy was willing to answer any questions I had or help in any way, even though I was not signing with him. I felt he genuinely wanted my business to succeed and wanted to help. Soon I realized the importance of having a realtor who has special knowledge of the healthcare field when choosing a space and decided to reach out to him. Remy is very professional, relaxed, and inviting. He brings his own expertise as well as others to consult about different aspects of building a practice. Remy is available, thoughtful, supportive, and assists in problem solving concerns that arise. The process was less stressful, because he was a partner in the process, not just a realtor. I have and will continue to recommend him for any commercial real estate needs.
Dr. Katie Boatman, DVM
Working with Mirlo Real Estate Partners was a great experience, and I could not be more impressed with the level of service I received. From the very beginning, Nick and Remy helped me establish my preferences and outlined the best strategy for my specific situation. Not only werethey able to find the PERFECT space for me in a brand new medical office building, but due to the tight deadline, they were also able to find me an OUTSTANDING temporary space to occupy during the construction period to minimize downtime for my practice. Their hard work and dedication really made the transition seamless. Their knowledge of my needs and the market was STRONG and helped me achieve VERY FAVORABLE terms. I would highly recommend them to any healthcare provider for their commercial real estate needs.
Dr. Alon Kahana, MD, PhD
We are incredibly grateful to Remy Isdaner for guiding us through the challenging journey of starting our veterinary practice. Remy’s knowledge was deemed invaluable from the outset, assisting us in every aspect of the startup process. Remy found just the right building, and it wasn’t even on the market. He contacted the owners and successfully negotiated a favorable deal, making our dream of owning a practice a reality. Remy’s professionalism, persistence, and genuine care for our success truly set him apart. We highly recommend Remy to any business owner needing support with their business endeavors!
Dr. Krysten Andrews, DVM & Dr. TJ Vernaci, DVM
As an established oral surgeon, I can wholeheartedly recommend Remy Isdaner and Mirlo Real Estate Partners to any medical professional seeking to start or expand their practice. Not only did Remy advocate and fight for my best interest, but he also demonstrated an unparalleled understanding of my industry, exceeding my expectations and making the process as smooth as possible. With Remy taking so much off my plate I was able to focus on building and marketing my business, allowing me to open my doors with a full schedule of patients. I could not be more satisfied with my experience working with Remy and my new, state-of-the-art oral surgery practice.
Dr. Robert John, DDS, MD
I am thrilled to share my experience with Mirlo Real Estate Partners. As an oral surgeon, the thought of handling a commercial real estate transaction and the subsequent buildout of my new office was daunting. However, Mirlo made the entire process seamless and efficient. From the outset, they were attentive to every detail of my requirements. Their knowledge and professionalism were evident as they guided us through each step, ensuring that every aspect of the deal was executed at the highest level. Nick and Remy worked hard to advocate for us and were committed partners in our success. Thanks to their exceptional service, I am now operating in a state-of-the-art facility, perfectly suited for my patients and staff. I wholeheartedly recommend Mirlo Real Estate Partners to anyone looking for a reliable and highly competent commercial real estate partner.
Dr. Jeffrey Wasielewski, DDS, MD, MBA
