Central Dermatology Center
After acquiring a practice in Raleigh, Central Dermatology Center (“CDC”) was focused on finding a new location to expand that practice and hired Davis Moore to lead those efforts. CDC’s preferred geography presented incredibly low vacancy rates and even fewer second-generation medical options.
After an extensive market search, Davis Moore uncovered an option in their targeted square footage range that was already built out as medical. Brief uncertainty in the market during the lease negotiations also presented an opportunity for Davis Moore to maximize CDC’s negotiating leverage.
A second-generation medical option allowed CDC to occupy the space with minimal up-fit, which was fully covered by the landlord’s up-fit allowance, relieving CDC of any out-of-pocket construction costs. The market uncertainty that Davis Moore capitalized on generated lease terms that doubled CDC’s free rent period and increased CDC’s up-fit allowance provided by the landlord by nearly 40% from what the landlord originally proposed.