Jasmine Mohadjer never planned on buying a building to start her new medical practice. It just kind of worked out that way.
“I couldn’t find anything that didn’t need a major overhaul,” said Mohadjer, an oculofacial cosmetic and reconstructive surgeon who spent months looking at space to lease in St. Petersburg.
That’s when Michael Heretick and Montana Massa, Mohadjer’s team of agents with Vector Commercial Real Estate – St. Pete’s oldest commercial brokerage firm – decided to get creative.
“This was a neat evolution of our value proposition to our clients,” said Massa, who connected with Mohadjer through a client referral. “When we realized there was nothing out there to lease that would fit her needs, we decided to look at what was available from a sales perspective.”
After searching through commercial listings, Heretick and Massa came across a property at 8855 Dr. Martin Luther King Jr. Street. The space, which once housed Envision Lighting Systems, was much larger than what Mohadjer needed. However, Heretick and Massa recognized that the property could be more than just a great location for Mohadjer to start her business – it could also be a solid investment for her and her husband. Plus, when Heretick and Massa pointed out the good interest rates and pro-business climate in St. Pete, Mohadjer knew that buying was the right decision.
“Now instead of paying someone else’s rent, she’s paying herself rent and has the property as an asset,” Massa said.
Mohadjer closed on the building in November 2019, but her relationship with Vector didn’t end then. Massa and Heretick continued to work with her, coaching her on what to expect as a property owner from a vacancy standpoint and sharing strategies on making the space attractive to tenants.
“This is what differentiates us from other firms. We have a lot of experience beyond the transactional side of finding properties,” Massa said. “We also do investments on our own which gives us a unique perspective because we know what it takes to own an investment property and we can help people feel comfortable with the overall process.”
By working with Vector on marketing and leasing, Mohadjer has been able to create a wellness hub by leasing her vacant spaces to St. Pete Acupuncture and Integrative Medicine and West Chiropractic and Neuropathy Center, both of which will operate alongside her practice, Eyelid Surgeons of Tampa Bay.
“I’m thrilled to have complimentary practices sharing our building,” she said. “I think it gives patients and clients a real sense that we are all here to address their concerns.”
Additionally, Mohadjer is excited to build equity while improving a property in the St. Pete community, and she knows she couldn’t have done it without the guidance of her team from Vector.
“Mike and Montana were great to work with,” she said. “We really appreciated their insight and direction through the whole process.”
Established in Downtown St. Petersburg in 1985, Vector Commercial Real Estate offers clients experienced representation in all facets of commercial real estate. To learn more, click here or call (727) 823-1230.