In many town and cities, storefronts and offices sit vacant. The brick-and-mortar business sector contracted over the course of the COVID-19 pandemic. Some businesses shuttered their operations, while others adapted and shifted their focus to e-commerce. However, despite vacancies, laboratories and clinics are renting space to set up shop, causing commercial real estate investors to earn income from a highly specialized revenue source.
The Need for Laboratories and Clinics
As vaccine distribution and further testing ramps up across the United States, healthcare workers, scientists, and pharmaceutical professionals need extra space to perform their jobs, with many looking to set up operations in various cities across the country. Industrial space, offices, and even vacant retail spots are being leased by laboratories and clinics to carry out their work closer to where the patients and hot spots are. This comes at as a great benefit to property investors who have had a gap in tenants over the past year.
Upgrades and Build-Outs
Most industrial property owners do not have to worry about modifications or build-outs, because labs and pharmaceutical companies will handle the necessary changes. However, some property investors will have to update their HVAC systems to have the proper filtration required to minimize the potential spread of COVID-19. Investors should also keep in mind that labs and clinics have fewer operational bathrooms than typical offices, to keep foot traffic to a minimum. It’s easy to find the requirements of labs and clinics before setting out to remodel your existing properties so you can attract commercial tenants.
Financing Properties for Labs and Clinics
Whether you are looking to purchase a new property to lease or renovate an existing property in your portfolio to meet the market demands of labs and clinics, The Capital Rams can help. From conventional loans for commercial properties to equity and mezzanine financing, CMBS conduit loans, and more, the team at The Capital Rams will work with you to structure funding solutions tailored to your need. To get a jump start on market demands for 2021, contact The Capital Rams today.