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Office Condominiums: a Blueprint for Opportunity


No one has ever accused doctors of not being among the best and brightest, right? So it’s hardly surprising that across the nation, physicians and other health professionals—as well as attorneys, accountants and countless other business men and women, are doing something totally brilliant: eliminating high monthly rent costs and snapping up office condominiums.1

Today, owning one’s own office is the latest real estate trend;2 it’s a boom never seen before! The medical sector alone has soared to a $2.5 billion dollar industry,3 with experts predicting that the numbers will continue to climb.4 Still, health professionals only make up part of the incredible, emerging office condo market. 5 There is a vast array of business individuals now looking to purchase office spaces. Just as they buy their own homes, executives, architects, insurance agents, dentists, chiropractors, financial planners, interior designers and other professionals want to acquire their own office properties.

Blazing hot! A survey conducted last year of real estate appraisers, developers and brokers in 41 U.S. markets revealed that almost 500 condo

Huffman was featured on the national television show "Let's Talk Franchise"

 
 

projects—accounting for 21 million square feet of office space—were actively being marketed.6 And in that same study, a whopping 80% of brokers surveyed said they believe the growth will continue.7 But what’s the best news? Now you can benefit from the historic expansion8 in the office condo market. Huffman Builders, the distinctive, go-to builder of beautiful, custom designed and custom-built office condominiums, is presently offering a select group of people the exciting opportunity to become franchise owners…perhaps you could be one of them.

As a Huffman Builders franchisee, you’ll be affiliating yourself with a seasoned, highly professional, and well respected company. You could not only be changing your career, but constructing a wonderful, new future!

What’s driving the demand for office ownership? There are many reasons. Here are some of the leading ones:

  • Rising rent costs. Once you own your own office space you’re no longer a slave to a landlord. You are forever free from rent increases.
  • Tax benefits, including possible deductions for mortgage payments, depreciation and repairs. Owning office space can be a means of sheltering income, too.
  • The freedom to customize space and add amenities. Your property can be tailor-made to suit your specific needs and desires.
  • Owning an office condo adds value to a business
  • Appreciation. Chances are that an office condo will increase in value. And investments made in interior improvements can be redeemed at sale time - rather than lost in a leasing situation.
  • It's an easy to understand concept. Just as people are familiar with and feel upbeat about buying residential condominiums, they perceive purchasing office condos in a similar manner.
  • Shying away from the stock market, buyers, including physicians, are finding that owning an office condo is an excellent investment, one that provides them with equity. As Murray Wolf, publisher of the Healthcare Real Estate Insights newsletter, says, “Just as the rest of us, (physicians) watched the stock market plodding along and decided to invest in real estate.” 9
  • Construction of nursing homes, high tech medical facilities and drug treatment centers will increase in the future.10
  • Income after retirement. That’s right, when doctors and other professionals stop working, they then have the option of leasing their condominium offices to a new generation of themselves!

When it comes down to it, owning one’s own office property is just a better option, one that makes economical sense. And as a Huffman Builders franchisee, you could be reaping the benefits of the budding office condominium marketplace!

Wide Customer Base
Huffman Builders develops professional office condominiums for a wide variety of clients. And that definitely includes building medical properties—a huge growth market, as we disclosed earlier. As a franchisee, some of those opportunities include:

  • Physician Offices and Physician Condominiums
  • Freestanding Outpatient Imaging Centers
  • Ambulatory Surgical Centers
  • Physicians Specific Medical Clinics
  • Small Acute Care & Specialty Care Hospitals
  • Renal Dialysis Centers
  • Endoscopic Centers
  • Radiation Oncology Centers
  • Rehabilitation Centers

And other outpatient facilities.

With aging baby boomers requiring more health care, and with insurers and government agencies pushing doctors to perform lower-risk procedures outside hospital settings,11 you'll have excellent opportunities for development and expansion.

[1] Marino, Vivian. “Ventures, A Doctor in the House? Yes, and He owns it, Too.” New York Times (March 5, 2006)
[2] Tellijohn, Andrew. “Bite-size.” Upsize Minnesota Magazine (April 2005)
[3] Pontius, Allan L. “Prescription for Success.” National Real Estate Investor (August 1, 2006. August 22, 2006)
[4] Marino, Vivian. “Ventures, A Doctor in the House? Yes, and He owns it, Too.” New York Times (March 5, 2006)
[5] “Office Condos” brochure. PNC Real Estate Finance (November 2006)
[6] Ibid.
[7] Ibid.
[8] Pontius, Allan L. “Prescription for Success.” National Real Estate Investor (August 1, 2006. August 22, 2006)

[9] Marino, Vivian. “Ventures, A Doctor in the House? Yes, and He owns it, Too.” New York Times (March 5, 2006)
[10] “Career Guide to Industries.” U.S. Department of Labor, Bureau of Labor Statistics 9 March 2004.
August 2, 2005

[11] Ibid.

 
     
"THIS FRANCHISE IS NOT BEING OFFERED TO RESIDENTS OF THE FOLLOWING STATES: CONNECTICUT, HAWAII, ILLINOIS, INDIANA, MAINE, MARYLAND, MINNESOTA, NEBRASKA, NEW YORK, NORTH DAKOTA, RHODE ISLAND, VIRGINIA AND WISCONSIN.

THIS OFFER IS NOT DIRECTED TO ANY PERSON IN THE STATES LISTED ABOVE OR ON BEHALF OF THE FRANCHISOR OR ANYONE ACTING WITH THE FRANCHISOR'S KNOWLEDGE. NO FRANCHISES CAN BE SOLD IN THE STATES LISTED ABOVE UNTIL THE OFFERING HAS BEEN REGISTERED AND DECLARED EFFECTIVE BY THE APPROPRIATE REGULATORY AUTHORITY AND THE UNIFORM FRANCHISE OFFERING CIRCULAR HAS BEEN DELIVERED TO THE OFFEREE BEFORE THE SALE WITHIN THE APPLICABLE TIME FRAME. THIS FRANCHISE IS OFFERED ONLY BY DELIVERY OF A FRANCHISE OFFERING CIRCULAR."
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