For More Information Contact:
Matt Apter, Managing Principal
Cresa Madison
608-467-1534
mapter@cresa.com
CRESA MADISON RELOCATES OAK PARK DENTAL
Lease Negotiation Delivers Expansion, Rent Reduction and Landlord-Funded Build-Out
Madison, Wisconsin – April 3, 2014 – Cresa Madison, the area’s only commercial real estate firm that exclusively represents tenants, is relocating Oak Park Dental from 6601 Mineral Point Road to 7617 Mineral Point Road. Although just a few blocks down the street, the relocation gives the green light for a 37% expansion of the premises, 11% reduction in rental rate and significant landlord investment in tenant improvements.
Nearly a four-year process, Oak Park Dental engaged Cresa Madison to fully examine space options, including negotiation of their original lease, new build-to-suits and existing buildings for acquisition or renovation. The new location totals 5,098 square feet of dental office space in a multi-tenant office building owned by Compass Properties. The dental group is currently building out the first floor under the direction of dental office design leader Michael Unthank of Lincoln, Nebraska, and will be open in the new facility on April 8th.
“Oak Park Dental is a great example of ‘it’s never too early to start looking at options’,” said Matt Apter, Managing Principal at Cresa Madison. “While we can usually help tenants in any part of their lease term, looking critically at your space well before you need to move – or as a proactive part of your business planning – enables us to investigate all of the possibilities the market has to offer. And, as with Oak Park Dental, this can result in new alternatives that afford greater potential for cost savings and more aggressive growth.”
Cresa worked with Oak Park Dental to align their space needs with their business goals, including finding a new location in proximity to their old practice as not to disrupt their current patient base. Cresa did an exhaustive search of properties and ultimately negotiated a new lease transaction with optimal terms and landlord tenant improvements.
“We wholeheartedly recommend using a professional advisor like Cresa Madison when reviewing your space needs and business goals,” stated Jana Gyurina, D.D.S., owner of Oak Park Dental. “From the beginning, Cresa provided us with invaluable market perspective that empowered us to take the next step with our practice, enabling us to provide a better patient care experience.”
About Cresa
Cresa is an international corporate real estate advisory firm that exclusively represents tenants and specializes in the delivery of fully integrated real estate services, including: Transaction Management, Project Management, Global Accounts, Portfolio Strategies, Location Planning, Lease Administration, Capital Markets, and Facilities Services. With more than 57 offices, Cresa is the largest tenant representation firm in North America. Through its partnership with Savills, one of the world’s largest commercial real estate services firms, Cresa covers more than 255 locations in 40 countries. For more information, visit www.cresa.com
