Case Study
Soleo Health
Soleo, a healthcare system offering therapeutic treatments for rare diseases, launched an aggressive expansion plan to open 20+ sites in 18 months. The client’s real estate portfolio consists of various asset types including office, lab, warehouse, and pharmacy space.
Approach
Soleo sought a real estate portfolio strategy to optimize their expansion, leverage the marketplace and streamline costs. Soleo’s existing portfolio included 22 locations across America, with regional hubs in Arizona, Ohio and Texas.
Each site has capital expense totaling $150 per foot, making the Site Selection strategy paramount.
Vestian identified locations with the right infrastructure to support Soleo’s business and manage down capital through landlord allowances and base building systems in place.
Proximity to hospitals/medical centers, key demographics and submarkets were critical to achieve success in their expansion. Vestian identified 8 options in each market that met these criteria, shortlisted to 3-5 options and issued RFPs. From there, the team leveraged the current market, negotiating optimal rent and concessions on behalf of Soleo, drastically reducing spend.
Services:
- Portfolio Optimization & Management
- Site Selection
- Real Estate Strategy
- Transactions management
- Negotiation
- Data Management
- VPortal Technology Solutions
- Project Management
- 20 Sites Achieved: Throughout 2022, the Vestian team launched 20 new sites in key growth markets across the U.S.
- Expansion at Reduced Cost: Vestian recognized that Soleo’s primary hubs in AZ and OH had ample opportunity for negotiation. Leveraging the state of the market, Vestian doubled the size of AZ (40K SF) and OH (25K SF) locations at a significantly reduced rate.