Conversion To Medical Space Bringing Payoffs
Miami Today | By: Peter Zalewski
A strong South Florida medical office space market is inspiring some owners to convert their professional buildings to accommodate the medical industry.
The conversion cost is usually high because of extensive plumbing and interior upgrades that are necessary, but the investment normally brings higher rents and long-term tenants, said Kenneth Weston, president of Kenneth Weston & Associates, who specializes in medical property.
Medical buildings also bring higher prices at selling time, he said. "If someone is looking to buy a building, a medical building is a prime investment to get your hands on," he said.
In the last year, Mr. Weston has seen an increased number of conversions taking place. Last year, he worked with seven. This year he's already working with two projects.