VCC-Lake-Elsinor-CA-LRG
CLIENT Vista Community Clinic
LOCATION Lake Elsinore, CA
SERVICES Brokerage & Advisory
Lease Negotiations
Request for Proposals
PROPERTY SIZE 4,800 SF Medical Office Space

ACCOUNT OVERVIEW

Vista Community Clinic (VCC) is a federally qualified health center with approximately 7 locations in San Diego, Riverside and Orange counties. Vista opened its doors for the first time in 1972, and has since become known as a key regional health provider with state-of-the-art clinics treating almost 60,000 patients each year.  The relationship between McKinney Advisory and VCC was originally established in 2013 when VCC was selected as a beneficiary for McKinney’s 2nd Annual Charity Event.  McKinney began to assist VCC with their real estate strategy for its expansion into new markets. Additionally, McKinney is the property manager to all of VCC’s Southern-California facilities.

 

CHALLENGE PRESENTED

Upon research of various markets who offer federal grants for health care services, VCC decided to pursue a presence in Lake Elsinore, CA or Moreno Valley, CA.  This particular requirement presented a unique challenge as VCC needed a site with a landlord willing to hold their property off-market for approximately seven months, while waiting to determine if VCC would be awarded a grant. To further complicate matters, the property also required existing medical office build-out to allow for a quick occupancy.

 

SOLUTIONS

After several market tours and extensive research, McKinney located a property formerly operated as a pediatric medical practice with much of the existing infrastructure VCC required.  McKinney began negotiation on the right of first offer to lease the building. The landlord agreed not to lease the property to any other party for the seven month period preceding the grant award, without first coming to VCC and allowing them to elect to sign a lease and commence operations.  Ultimately, VCC obtained the grant award and was able to move forward with leasing the property for a seven year lease term at attractive rates.