30
Oct

Sometimes the Right Space Is Worth Fighting For, Even If It Takes 8 Months

png-768x413 imageI’m thrilled to share the successful completion of a new 12-year lease for Miami Kidney Group LLP, a nephrology practice that has served our community for more than 40 years.
After more than 20 years in its previous location, the practice had outgrown its space.

The goal sounded straightforward: consolidate several offices into one location that would provide approximately 6,000 square feet, convenient access for patients and physicians, and ample parking.

Finding all of that in a centrally located infill property proved anything but straightforward.



The Search for the Right Space

Using a ZIP code analysis of Miami Kidney Group’s patient base, we focused our search on Pinecrest and East Kendall.

Months into the search, the right property appeared in a rather unexpected way.One day, while visiting a local fish market, of all places, I noticed that the building next door looked vacant. That observation ultimately led us to 9795 South Dixie Highway—a ground-floor former bank space that checked the boxes we had been trying so hard to fill.

Finding it, however, was only half the battle.
Then Came the Negotiations

The landlord, a shopping center development firm, was accustomed to a triple-net (NNN) lease structure, rather than the full-service gross structure commonly used for Miami office space.

That distinction mattered.

The property also involved shared easements and communal expenses that created potential long-term cost exposure for the tenant. We needed to find a structure that worked for the landlord while protecting Miami Kidney Group from excessive expense increases over the life of a long-term lease.

It required market knowledge, multiple financial structures, test fits, allowances, abatements, expense caps—and a great deal of persistence and compromise from both sides. From Former Bank to Future Medical Office
Ultimately, we reached an agreement for a 12-year lease with purchase options and protections designed to provide greater predictability over the lease term.

The approximately 6,000-square-foot former bank space is now undergoing a complete gut renovation and custom buildout for Miami Kidney Group, with occupancy scheduled for January 1, 2027.



Great Things Are Happening Behind These Doors.

Deals like this are a good reminder that commercial real estate isn’t simply about finding available space.

Sometimes the real work begins after you find it.

This transaction required firm advocacy for our tenant, creative problem-solving, market knowledge and compromise to turn a difficult set of circumstances into an agreement that worked for everyone.

A special thank-you to Steve Henenfeld and his team at Colliers for helping keep the process moving forward through the financial, construction and legal complexities.

I’m grateful for Miami Kidney Group’s confidence in Guilford Property Group and proud to have helped them find the right home for their growing practice. I look forward to seeing the space take shape and celebrating this next chapter with them.
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