California Centers Magazine serves retailers, developers, shopping center owners, investment sales brokers and tenant representation firms throughout the state of California.
Issue link: https://californiacenters.epubxp.com/i/472297
8 California Centers Magazine | March 2015 C C dition, the company is committed to assisting dentists in opening practices wherever there is need for quality, af- fordable care. For 2015, the company projects adding 30 to 40 new offces in new and existing market regions throughout the U.S. Types of new sites sought include freestanding buildings and pad or end-cap space in open air centers of at least 120,000 square feet. The ideal store size is 3,000 to 4,000 square feet, with preference for space in regional power centers and neigh- borhood shopping centers featuring grocer and soft good tenants. Co-ten- ancy with other national and regional tenants (and value oriented category killers such as Target and Walmart) is desired, as is high visibility and heavy traffc. The parking requirement is 5:1000. The center must allow maxi- mum signage, including monuments and pylons, with Bright Now! Dental incorporating its trademark logo. The ideal situation would be a freestand- ing pad in an open air center that of- fers excellent frontage and visibility along a major arterial in a new residen- tial growth community. Demographic requirements call for a population of 100,000 within a three-mile radius; 150,000 within fve miles, reporting a median family income ranging from $50,000 to $100,000. The target client for the tenant is middle-income 25 to 50 year olds possessing some level of college education. The company will undertake a build-to-suit or lease, with the standard term commitment being 10 years with two fve-year op- tions. Once a site is approved, real es- tate negotiations can be concluded in as little at eight weeks. Among healthcare providers it is widely recognized that processing insurance paperwork, hiring admin- istrative staff, compiling payroll and maintaining equipment and facili- ties consumes a tremendous amount of time, money and attention. Bright Now! Dental aims to help dentists re-focus their skills, knowledge and energy on patient care vs. offce ad- ministration. It presents a win-win strategy for both dentists and patients, and offers substantial improvements over traditional dental care settings. With only an estimated 50 percent of the U.S. population reportedly opting for routine dental care, there is tre- mendous potential for growth in this industry. CC Real estate inquiries and site submittals can be directed to: William McCarthy, Senior VP, Real Estate, Smile Brands Group, Inc. 8105 Irvine Center Drive, Suite 1500, Irvine, CA 92618 (714) 668- 1300 or email: realestate@smilebrands. com.