Companies & People: They have the Bay Area covered

Bayside Realty Partners has grown by becoming a local market expert in HRE

By John B. Mugford

In the healthcare real estate (HRE) industry, there are certain firms throughout the country that are well-known for possessing a great deal of local market knowledge and expertise.

They know virtually each and every HRE space in the area, including those that are currently available for lease and those that might become available soon. They know who all the healthcare providers are, large and small, and what their space needs might be. They understand all of the dynamics at play in their markets, including the up-and-coming, or down-and-out, submarkets, and they are aware of the nuances of the competition, or cooperation, between the health systems and physician groups.

These local experts, as one might imagine, often receive calls and are hired not only by existing clients but also by new firms, such as investors looking to enter their markets.

Although there are certainly numerous firms and professionals with deep knowledge of the Bay Area HRE market and all of its players, one firm that often receives such calls is Bayside Realty Partners, which is based in San Carlos, Calif., about 20 miles south of San Francisco.

The 16-person firm has been led since 2002 by W. Trask Leonard Jr., the president and CEO, who previously headed the Northern California division of Dallas-based Trammell Crow Co. prior to acquiring Bayside. Back then, the firm had four employees and healthcare comprised only about 10 percent of its operation, the rest being office and industrial.

However, over the years, Mr. Leonard and his team have shifted a great deal of their focus to medical real estate, and the firm has certainly made its mark on the Bay Area HRE scene. Today, the firm provides leasing services for about 1.5 million square feet of healthcare assets and property management and leasing services for an additional 800,000 square feet. It still provides such services for office and industrial properties as well.

Helping to lead the firm is Caroline Doyle, who, according to her company biography, “oversees leasing for San Francisco Bay Area’s largest medical office buildings owned by national institutional and private real estate investors.” Ms. Doyle, who has been involved in Bay Area real estate for more than 20 years, joined the firm in 2015.

HREI™ recently had the opportunity to speak with Mr. Leonard and Ms. Doyle. Here’s that conversation, including some background on Bayside Realty Partners and insights into the Bay Area medical real estate scene.

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