Medical Office Project
Healthcare Realty Trust
NAI Ohio Equities is one of Central Ohio’s largest, long-standing commercial real estate companies. The firm has been serving the Columbus real estate market since 1971. We strive to provide the highest quality real estate services by adding value to our clients' assets and real estate needs through expert analysis, specific market knowledge, and personalized service. We pride ourselves on our communication and accountability.
NAI Ohio Equities is the Central Ohio affiliate of NAI Global, the single largest, most powerful global network of owner-operated commercial real estate brokerage firms. NAI Global member firms span worldwide, with 375 offices and more than 6,700 local market experts on the ground. Supported by the central resources of the NAI Global organization, member firms deliver market-leading services locally and combine their in-market strengths to form a powerful bond of insights and execution for clients with multi-market challenges in the U.S. and/or globally.
- Project
- In July 2022 Healthcare Realty Trust, one of the largest healthcare REITs in the country, finalized its merger with Healthcare Trust of America Inc. growing its portfolio of medical office buildings in Central Ohio to more than 748,000 square feet, or roughly 7.5% of medical office building space in the MSA. Following the merger, Healthcare Realty determined that it would use a local brokerage to manage the leasing responsibilities for its Columbus properties, a responsibility Healthcare Trust of America previously managed in-house. Through a selective process, Healthcare Realty chose NAI Ohio Equities’ award-winning Office Brokerage Group to manage its Columbus portfolio.
- Approach
- The Office Brokerage Group curated conceptual floor plans and used professional photos and drone video to capture the spatial elements and actively market the portfolio – an approach not previously undertaken. It also leveraged its positive reputation and established relationships with hospital systems and co-operating brokers to generate awareness, putting a familiar name and face to the properties. The responsiveness and accessibility of Healthcare Realty paired with its white glove approach simplified and expedited the tenant decision-making process. This, along with the team’s creative approach to both problem-solving and keeping deals on-track, has been a significant differentiator leading to increased visibility and more executed leases.
- Results
- Over the course of the first year since taking on the assignment the Office Brokerage Group has leased or renewed more than 106,000 square feet of medical office space across the Columbus portfolio averaging more than 8,800 square feet per month. Between January 1, 2023, and January 1, 2024, the absorption rate for the Healthcare Realty portfolio was a positive 3.1%, outperforming the absorption of medical office space for the Columbus market, which was negative 1.2%. Furthermore, the team has successfully attracted new tenants with complimentary practices to the portfolio including Cityblock Health, Hypertension Nephrology Consultants, Ohio Guidestone, Necco LLC, Horizon Infusions, ClinOhio, and Tri-State Men’s Health. This synergy among tenants creates balance which allows these practices to thrive.
- Portfolio Size
- 673,403 SF
- Profile
- Healthcare Realty Trust is a Real Estate Investment Trust focused on owning, managing, acquiring, and developing outpatient medical facilities. HRT owns 697 properties and 41 million square feet of medical outpatient buildings throughout the United States.
Team Members
