McGuire Development was retained by the owners of Northwoods Medical Center to provide property management, asset management, financing, marketing, and leasing services. Our team immediately set to work determining areas for improvement and ways to increase operational efficiencies for the medical office building.
A strategic plan was developed that included exterior upgrades such as lighting and landscaping, and interior upgrades to all common areas. McGuire Development also bid out the services for the property, such as snow plowing and landscape maintenance, which lead to significant savings for the owners. McGuire Development’s brokerage team tapped into their vast network of medical contacts to source new tenants for the building.
In total, McGuire Development increased occupancy by 12% and lowered operating expenses by 5%. As a result, McGuire Development has taken an ownership interest in the building as the team continues to improve the property and lease the remaining space to new tenants.