Landlord Hesitancy is Medtail’s Biggest Hurdle
Abstract
The percentage of leased medical space in retail buildings has increased from 16 percent in 2010 to 20 percent now. Accommodating medical providers can be challenging. For the Medtail building, the medtail office can require a much higher investment. A medical tenant costs around $800,000, almost two times the investment in the space between equipment and buildout. There’s an expectation that the second floor will fill up with tenants. Second-floor tenants are exchanging less desirable real estate for lower rents. But oftentimes, that strategy can backfire, and that strategy could backfire. There needs to be a collaboration between the landlord and the occupier. ‘Medtail is a design aspect that’�s a little evolutionary,’ says Coury.