Something new for Palm Coast

Oaks Development Group Launches Physician Incubator Space in Palm Coast Medical Office Building
Thu Oct 15, 2009 2:58pm EDT

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Oaks Development Group Launches Physician Incubator Space in Palm Coast
Medical Office Building





PALM COAST, Fla., Oct. 15 /PRNewswire/ -- Technology companies have been doing
it for years. Why not the medical profession? Incubator space has recently
gathered some thoughtful discussion in hospitals and as a way to generate
interest in the expansion of medical care into secondary markets. One
developer, North Carolina-based Oaks Development Group, believes there's
application in off-campus medical office buildings (MOBs). As such, the
innovative developer is rolling out the concept in its Palm Coast, Florida,
building.


Oaks broke ground on the 20,000-square-foot building over the summer. Located
across from Florida Hospital Flagler on State Road 100, it is expected to be
completed in early 2010.


The incubator space will consist of 2,200 square feet and eight offices. Oaks
is making the space available for as little as two, half days a week with just
a one-year commitment for physicians looking to expand into new markets. Oaks
provides exam tables, chairs, permanent equipment, high-speed internet, phone
system and cleaning services, with no cash outlay for physicians. "It's shared
space, providing opportunities for physicians to open second practices or move
into new markets. It's available to them while they build up their practices,
until they are ready to move into permanent space," said Charlie Barker, Oaks'
director of Florida development.


"In addition, our model for tenanting our office buildings is focused on
nesting practices that serve as natural referral sources for each other,"
added Barker. "This contributes to a start-up practice's ability to attract
new patients."


Such space also provides an option for physicians who are coming in from
competing markets where they may not yet be affiliated with any hospital or
are connected with a competing hospital. "Our workspace gives them an
opportunity to start up in that market, at a fraction of what they'd pay to
rent traditional office space," added Barker.


The rest of the Palm Coast building is reserved for Oaks' unique ownership
model that provides tenants with a piece of the ownership pie without
requiring upfront equity. The architect on the project Thomas Miller &
Associates. M.J. Harris, Inc. is the contractor. Cornelia Manfre, Prudential
Commercial Realty, is exclusive broker.


For leasing and ownership information regarding the Palm Coast medical office
building, please contact Charlie Barker of Oaks Development Group at:
1-866-676-7453 or cbarker@oaksdevelopment.net.


About Oaks Development Group
Oaks Development Group, http://www.oaksdevelopment.net, is a private equity
funded real estate investment group specializing in the acquisition,
construction, conversion, restructuring and management of medical/professional
properties to achieve a consistent long term and stable return for private
investments. The Oaks model involves strategically sharing equity in
transactions with individual tenants and equity partners. Oaks Development
Group is headquartered in Cary, North Carolina, with additional offices in
Wilmington, NC; Savannah, GA; Tampa, FL; and San Antonio, TX. For more
information on Oaks projects, please call 1-866-780-5095 or visit
www.oaksdevelopment.net for more information.






SOURCE Oaks Development Group

Kim Oaks of Oaks Development Group, +1-910-763-5737, ext. 204,
kloaks@oaksdevelopment.net; or Debi Pfitzenmaier of PfitzPR, +1-210-669-6911,
debi@pfitzpr.com, for Oaks Development Group