Capital Markets: Parking is an important factor

It plays a key role in determining the value of and ability to finance an MOB

By Erik Tellefson

Parking is an important factor in determining the value of and ability to finance a medical office building (MOB). While a good location is essential, the lack of parking spaces can cause patients to use other facilities. Parking that is not up to the standard in the submarket – usually measured as parking spots per building square feet – can make a building difficult to finance. Similarly, the availability of convenient, secure parking can be a significant element in attracting and retaining physicians, other key medical facility employees and their patients – not to mention making the financing an easier venture.

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