Mission Health Medical Center

Etkin assisted our client with the acquisition of the 72,000 square foot Mission Health Medical Center. Upon taking over property management duties, we surveyed the operational and physical aspects of the property to provide increased security and reduced expenses. Our strategic plan lowered operating expenses by 10% within 12 months while increasing tenant satisfaction with janitorial, as well as tenant relations.

Action:

Remeasured the building to current BOMA standards and converted tenant leases upon lease renewal
Converted leases from modified gross or the market standard triple-net lease structure
Corrected rents to a market-correct standard
Scrutinized operating expenses to ensure market acceptable prices and standards
Upgraded building entry and security system for better operational use
Implemented COVID-19 safety protocols for tenants and their patients

Results:

Created value through increased occupancy and revenue through lease-up and space remeasurement
Provided secure work environment for tenants

“Etkin approached our properties on a macro level getting a feeling and understanding of the property’s operations and our expectations. Etkin was able to quickly identify areas for improvement including security. Life safety, HVAC, and janitorial. They were able to find the inefficiencies in the operations of the building while creating value in areas others had neglected. Etkin worked closely with our tenants through ownership and management transition providing a stable environment and increased tenant satisfaction.”

Sean Tu, Vice President. Asset Management Global Medial REIT