Brokerage Healthcare Real Estate Services

Healthcare Expertise & Industry Recognition

Kidder Mathews’ healthcare group combines broad geographic coverage with specialized expertise in medical office, outpatient facilities, and healthcare real estate investment, leasing, and advisory services.

Since 2024, Kidder Mathews healthcare professionals have completed more than 850 transactions, representing $1.32 billion in transaction volume and 4.8 million square feet. Nearly 20 healthcare professionals across our markets bring that experience to medical practices, health systems, property owners, investors, and developers.

Kidder Mathews healthcare professionals have earned recognition from leading commercial real estate publications and industry organizations, including GlobeSt’s Influencers in Healthcare Real Estate in 2022, 2024, and 2026; CREDA (formerly NAIOP) Arizona’s 2025 Healthcare Broker of the Year; and CREDA (formerly NAIOP) Washington’s 2026 Broker of the Year. Additional recognition includes AZ Big Media’s People & Projects to Know in 2025 (Healthcare Team) and 2027 (Up & Coming), as well as AZ Business Magazine’s Who’s Who in Healthcare in 2023, 2024, 2025, and 2026.

Kidder Mathews healthcare professionals advise healthcare occupiers, property owners, and investors on leasing, acquisitions and dispositions. Our capabilities include:

• Healthcare tenant representation: site selection, market and demographic analysis, new lease negotiations, renewals and renegotiations, relocations, lease-versus-own analysis, occupancy and operating cost analysis, space planning and tenant improvement allowance negotiations.
• Healthcare landlord representation: leasing strategy, property positioning and marketing, tenant outreach, lease negotiation and occupancy planning for medical office buildings and healthcare campuses.
• Healthcare investment sales and acquisitions: representing buyers and sellers of medical office buildings, clinics and other healthcare properties, including owner-user acquisitions and dispositions for physician groups, investment transactions, healthcare sale-leasebacks, 1031 exchange acquisitions, and net lease (NNN) medical properties.

• Healthcare development and build-to-suit: advising healthcare users on development and build-to-suit opportunities.
• Health system portfolio and real estate strategy: advising health systems on real estate strategy, including consolidations, surplus space and subleasing.
• Private equity-backed platforms and dental service organizations (DSOs): advising private equity-backed healthcare platforms and DSOs, including dental, veterinary, dermatology and orthopedic groups, on real estate strategy, leasing and acquisitions.
• Market rent analysis and regulatory awareness: evaluating market rental conditions on hospital and physician leases with awareness of Stark Law and Anti-Kickback Statute considerations.

Medical Office & Outpatient

• Outpatient medical and medical office buildings (MOBs), both on-campus and off-campus, physician offices and specialty practices such as ophthalmology and physical therapy
• Medical and dental clinics
• Urgent care facilities, ambulatory surgery centers (ASCs), and outpatient surgery centers
• Behavioral health and mental health facilities
• Veterinary hospitals and clinics
• Medical research facilities
• Dialysis, infusion, imaging, and cancer/oncology centers
• Retail medical (“medtail”): urgent care, dental, and veterinary space in retail centers

Hospitals & Health Systems

• Hospital systems (general acute and sub-acute)
• Community hospitals and health centers
• Micro-hospitals and freestanding emergency departments (EDs)
• Land development for healthcare facilities

Senior Living & Care

• Skilled nursing and long-term care facilities
• Independent living and assisted living
• Memory care and inpatient rehabilitation facilities
• Continuing care retirement communities and seniors housing

Kidder Mathews healthcare professionals work with the following types of clients:

• Medical practices and physician groups: site selection, leasing, renewals, lease-versus-own analysis and owner-user sales for physician groups across specialties, including dental, veterinary, dermatology, ophthalmology, orthopedics, and behavioral health.
• Health systems and hospitals: real estate strategy, including consolidations, surplus space and subleasing, plus hospital and physician leases with market rent analysis and Stark/Anti-Kickback awareness.

• Private equity-backed platforms and DSOs: real estate strategy, leasing and acquisitions for dental, veterinary, dermatology, and orthopedic platforms.
• Property owners and landlords: leasing strategy, positioning, and tenant outreach for medical office buildings and healthcare campuses, with property management through Asset Services and appraisal through Valuation Advisory.
• Investors: acquisitions and dispositions, 1031 exchange properties, and net lease (NNN) medical properties.
• Developers: development and build-to-suit opportunities for healthcare users.

Healthcare Markets We Serve

Kidder Mathews has 20 offices across Washington, Oregon, California, Nevada, Arizona and Texas, and advises healthcare clients across the Western U.S. and on assignments nationwide. Our healthcare professionals work in markets including Greater Seattle/Puget Sound, Portland, San Francisco Bay Area, Phoenix, Las Vegas, Greater Los Angeles, and Dallas.

What to Look for in Healthcare Space

Choosing healthcare space involves more than square footage and rent. Key considerations include:

• Zoning and permitted use: confirm the location allows medical use and the practice’s specific services, such as procedures, imaging or outpatient surgery, before committing to a lease.
• Parking ratios: patient volume makes parking more important for medical space than for general office, so check the ratio and how close parking is to the entrance.
• Plumbing and buildout: exam rooms, labs and procedure areas need plumbing, electrical capacity and specialized buildout, and existing medical space can reduce cost and time.
• ADA accessibility: confirm accessible entrances, restrooms, exam rooms, and parking.
• Signage: building and monument signage helps patients find the practice, so review signage rights in the lease.
• Proximity to hospitals and referral sources: location near hospital campuses, referring practices and the patient population can affect patient volume.

Kidder Mathews healthcare professionals help clients compare locations against these criteria during site selection.

Healthcare Sale-Leasebacks & Owner-User Dispositions

Physician groups and other owner-operators can sell a building to an investor and lease it back to keep operating in the same space. Kidder Mathews healthcare professionals advise on sale-leasebacks and owner-user dispositions. Common candidates include physician groups that own their buildings and health systems with owned outpatient space. Lease term, rent, and escalations affect both the sale price and the occupant’s long-term costs, and buyers often include investors seeking net lease (NNN) medical properties and 1031 exchange buyers.

Fair Market Value Rent & Stark/Anti-Kickback Awareness

Hospital and physician leases involve fair market value rent and call for awareness of the Stark Law and Anti-Kickback Statute. Kidder Mathews healthcare professionals help clients evaluate market rental conditions and negotiate lease terms with that awareness.

What healthcare real estate services does Kidder Mathews provide?

Kidder Mathews provides healthcare-focused brokerage services, including healthcare tenant and landlord representation, investment sales, and acquisition and disposition advisory. Kidder Mathews also offers Asset Services (property management) for medical and research properties and Valuation Advisory (appraisal), which includes healthcare properties.

Does Kidder Mathews represent healthcare tenants and medical practices?

Yes. Kidder Mathews brokers represent medical practices, physician groups and healthcare organizations in site selection, new leases, renewals, relocations, lease-versus-own analysis, occupancy cost analysis and tenant improvement negotiations.

When should a medical practice start planning a lease renewal or relocation?

Most practices benefit from starting 12 to 18 months before lease expiration. That timeline leaves room to survey the market, compare renewal and relocation options, and negotiate with leverage instead of against a deadline. Kidder Mathews healthcare professionals can assist with this planning process.

What should a practice look for in healthcare space?

Healthcare and medical practices should evaluate zoning and permitted use, parking ratios, plumbing and buildout requirements, ADA accessibility, signage, and proximity to hospitals and referral sources. Kidder Mathews healthcare professionals help practices compare locations against these criteria during site selection.

Does Kidder Mathews provide leasing services for medical office building owners?

Yes. Kidder Mathews brokers provide landlord representation for medical office buildings and healthcare campuses, including leasing strategy, property positioning and marketing, tenant outreach and lease negotiation.

Can Kidder Mathews help buy or sell a medical office building?

Yes. Kidder Mathews healthcare brokers represent buyers and sellers of medical office buildings, clinics and other healthcare properties, including owner-user and investment transactions. This includes owner-user dispositions for physician groups.

What is a healthcare sale-leaseback and when does it make sense?

In a healthcare sale-leaseback, an owner-operator such as a physician group or health system sells its building to an investor and signs a long-term lease to keep operating in the space. It can make sense when an owner wants to release capital tied up in real estate, for example to fund growth, acquisitions or debt reduction, while keeping the location. The trade-offs are ongoing rent and giving up ownership of the property, so the decision depends on the owner’s financial goals and the lease terms. Kidder Mathews healthcare brokers advise physician groups and other owners on sale-leasebacks and owner-user dispositions.

Can Kidder Mathews help with a 1031 exchange or net lease (NNN) medical property?

Yes. Kidder Mathews healthcare brokers advise owners and investors on 1031 exchange acquisitions and net lease (NNN) medical properties. In a 1031 exchange, an investor reinvests sale proceeds in qualifying property to defer capital gains tax; investors should consult their tax advisors. Net lease (NNN) medical properties are leased to healthcare tenants who pay most of the property’s operating costs.

What types of healthcare properties does Kidder Mathews work with?

Kidder Mathews healthcare assignments include outpatient medical and medical office buildings (on-campus and off-campus), medical and dental clinics, specialty practices such as ophthalmology and physical therapy, urgent care facilities, ambulatory surgery centers (ASCs), outpatient surgery centers, dialysis, infusion, imaging and cancer centers, retail medical (medtail) space, behavioral health and mental health facilities, hospitals, micro-hospitals, freestanding emergency departments and community health centers, medical research facilities, senior care properties such as skilled nursing, memory care, inpatient rehabilitation, assisted living, independent living and seniors housing, and veterinary hospitals and clinics.

Where does Kidder Mathews provide healthcare real estate services?

Kidder Mathews brokerage professionals advise healthcare clients across the Western U.S. and on assignments nationwide through the firm’s 20 offices located in Washington, Oregon, California, Nevada, Arizona, and Texas. Our healthcare professionals work in markets including Seattle, Portland, San Francisco Bay Area, Phoenix, Las Vegas, Los Angeles and Dallas.

Who does Kidder Mathews serve in healthcare real estate?

Kidder Mathews serves medical practices and physician groups, health systems, dental and veterinary operators, private equity-backed healthcare platforms and dental service organizations (DSOs), property owners, developers, and private and institutional investors with commercial real estate needs involving healthcare properties.

Who are Kidder Mathews’ healthcare clients?

Kidder Mathews has worked with real estate owners, developers and investors, health systems and physician practices. Representative clients include Anchor Health Properties, Atlas Healthcare Partners, Fresenius Health Partners, Hammes Partners, Harrison Street, Healthcare Realty, Healthpeak, HonorHealth, Lillibridge, Medix Infusion, Montecito Medical, Overlake Medical, Remedy Medical Properties, Retina Consultants of America and Woodside Health.

Can Kidder Mathews help a medical practice decide whether to lease or buy?

Yes. A lease-versus-own analysis compares the total cost of leasing with the cost of buying, including rent, operating expenses, tenant improvements and capital, alongside the practice’s growth plans and flexibility needs. Kidder Mathews brokers prepare these analyses for healthcare tenants.

How do Stark and Anti-Kickback rules affect healthcare leases?

The Stark Law, the federal physician self-referral law, and the Anti-Kickback Statute restrict certain financial arrangements between healthcare providers that can refer patients. Leases between hospitals or health systems and physicians or other referral sources are commonly structured so that rent reflects fair market value and does not take referrals into account. Kidder Mathews healthcare professionals help clients evaluate market rental conditions and negotiate hospital and physician leases with awareness of these rules.

Does Kidder Mathews work with veterinary practices and hospitals?

Yes. Kidder Mathews healthcare brokers advise veterinary practice owners, operators and investors on the sale and acquisition of veterinary hospitals and clinics and represent veterinary practices seeking space to lease.

Does Kidder Mathews work with dental practices?

Yes. Kidder Mathews healthcare brokers advise dental practice owners and investors on the sale and acquisition of dental offices and clinics, and represent dental practices in site selection, leasing and renewals.

Does Kidder Mathews work with behavioral health providers?

Yes. Kidder Mathews healthcare brokers represent behavioral health and mental health providers in site selection, leasing and renewals, and advise owners and investors on the sale and acquisition of behavioral health and mental health facilities.

How can I find a Kidder Mathews healthcare professional?

You can locate a Kidder Mathews healthcare professional using our professionals search or by submitting your requirements through our Connect With Us form. A Kidder Mathews healthcare professional will follow up on your inquiry.

How can I find healthcare properties for lease or sale from Kidder Mathews?

Kidder Mathews lists available healthcare properties for lease and for sale. Use our property search to view healthcare properties for lease and healthcare properties for sale, or submit your requirements through our Connect With Us form.

Pacific Northwest

Will Frame, Regional President, Brokerage
206.296.9600 / will.frame@kidder.com

Northern California & Nevada

David C. Nelson, Regional President, Brokerage
415.229.8890 / david.nelson@kidder.com

Greater Los Angeles, Southern California, Arizona, & Texas

Darren Tappen, Regional President, Brokerage
darren.tappen@kidder.com
Greater Los Angeles: 213.421.1400
Southern California: 949.557.5000
Arizona: 602.513.5200
Texas: 214.389.7640