Apex, NC — Oak Street Commercial Real Estate is pleased to announce the successful long-term lease of a medical office condominium located within the prestigious Apex Medical Park in Apex, North Carolina.
The property was secured on behalf of the landlord after Oak Street Commercial Real Estate was engaged to reposition and market the space following challenges with prior tenancy. Before engaging professional representation, the ownership had self-managed the leasing process, resulting in a short-term tenant that was not fully utilizing the space and was not considered an ideal long-term fit for the property.
After taking over the assignment, Oak Street Commercial Real Estate implemented a targeted marketing and leasing strategy focused on attracting established medical and professional users within the Triangle market. Through strategic marketing efforts, tenant qualification, negotiations, and guidance on timelines and expectations, the firm successfully secured a new long-term tenant with multiple established locations throughout the region.
The incoming tenant, a well-established business with more than a decade of operating history, relocated from another Apex-area location to accommodate continued growth and expansion into a larger facility.
As part of the transaction, Oak Street Commercial Real Estate successfully negotiated a 36.34% increase in base rental rate over the previous lease arrangement, helping ownership improve both tenant quality and long-term property performance.
“This transaction reflects the continued demand for well-positioned medical office space in Apex and throughout the Triangle,” said Oak Street Commercial Real Estate. “Well-marketed and professionally negotiated properties continue to attract strong tenants seeking long-term operational stability and growth opportunities.”
The transaction further highlights ongoing demand for functional medical office space within high-growth submarkets, particularly among established operators seeking strategic expansion opportunities.
Terms of the transaction were not disclosed.
For more information regarding medical office leasing opportunities or questions about your current commercial property, please contact Oak Street Commercial Real Estate.
