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North American Dental Group, OH and PA

Lease Review

Situation

North American Dental Group did not have a director of real estate for its 70 locations, often resulting in reactive versus proactive decision-making on real estate issues.  The company turned to Weber Wood Medinger as their commercial real estate advisor, for implementation of a review process to encompass all leases across its portfolio.  The new process endeavored to evaluate all locations for renewal, relocation, or closure with a focus towards reducing its overall operating expenses for real estate. 

 

 

Challenges

Without an internal lease review process, or centralized storage of leases, Weber Wood Medinger needed to abstract the salient information on each lease and identify not only pertinent dates, but also look for opportunities or added risk factors that were included in acquired leases.     

 

 

Results

The target goal was 10% reduction in real estate expenses.  Weber Wood Medinger has already averaged 15% savings across the first five leases negotiated on behalf of North American Dental Group.  The medical office buildings averaged 2,500 square feet each, and were located in Maumee, Kent, Medina, and Willoughby Hills, Ohio, with the fifth building in Pittsburgh, PA.