1. Latest News
  2. Submit Press Release
  1. PR Home
  2. Latest News
  3. Feeds
  4. Alerts
  5. Submit Free Press Release
  6. Journalist Account
  7. PRNewswire Distribution

Meridian Property Sells Third Building in 34,000 SF Medical Business Complex in Palmdale, Calif

Repositioned Property Enjoys Success One Block From Palmdale Regional Medical Center

 
 
Sierra Pelona Medical Center in Palmdale, Calif.
Sierra Pelona Medical Center in Palmdale, Calif.
PRLog - Feb. 6, 2014 - PALMDALE, Calif. -- SAN RAMON, CALIF. -- Meridian Property Company, a full service real estate developer and owner of medical real estate, is pleased to announce that it recently sold a 8,400-square-foot freestanding building at its Sierra Pelona Medical Center campus in Palmdale, Calif. The building, the largest of the five buildings in the Sierra Pelona development, will be the new home of Joshua Medical Group, a local family practice. Sierra Pelona Medical Center is located in southern Palmdale at the intersection of 5th Street West and Palmdale Boulevard, just one block from the new Palmdale Regional Medical Center.

Joshua Medical Group joins Social Vocational Services, Inc., which offers adult day programs and supported employment, and Care1ST Primary and Urgent Care Center at the Sierra Pelona Medical Center campus. The building, which is located at 8460 5th Street West, has never been occupied and is in a cold shell condition. Joshua Medical Group will build out the interior improvements and most likely move in sometime this fall, according to Meridian's Chief Operating Officer John Pollock.

Inspired by the success of its initial project in the Palmdale market, Meridian Professional Center – Palmdale, Meridian Property Company acquired the 34,000-square-foot Sierra Pelona Medical Center in November 2011. The center, which was then known as the Challenger Business Park, had sat virtually empty since it was completed in 2008. Meridian bought the business center with the intention to reposition the business park to a thriving medical campus complementing its neighbor, Palmdale Regional Medical Center. Meridian has developed 15 medical projects with more than 1 million square feet.

Despite the recession, Meridian had enjoyed 90% occupancy at its nearby center and felt it understood the local marketplace and the needs of the doctors. The original developer of the Challenger Business Park had been looking to attract office and retail users; whereas Meridian knew that doctors and service providers wanted to be close to the new Palmdale Regional Medical Center, community amenities and freeway connections. The Palmdale Regional Medical Center, which opened in 2010, features 157 licensed acute care beds, inpatient and outpatient surgery, cardiac services featuring a STEMI Receiving Center (heart attack), and a 35-bed 24-hour emergency department.

Pollock reports that Meridian has two buildings available at the Sierra Pelona Medical Center, a 6,250-square-foot building and a 6,700-square-foot building. Both are available for sale or lease (divisible to 2,000 square feet). Additionally, there is an approximately 2.91-acre lot on the campus, which is available for sale or as a  build to suit. The lot is currently approved for construction of an approximately 49,000-square-foot medical office building.

"This a great medical center with synergistic owners and represents a unique opportunity for the medical community that needs office space to be just one block from Palmdale Regional Medical Center," Pollock said. Sierra Pelona Medical Center also has easy access to Highway 14 and is located one mile from Antelope Valley Regional Mall and other retail amenities. Sierra Pelona Medical Center is also in close proximity to Antelope Valley Country Club.

Colliers International Senior Vice Presidents John Erickson and Brent Weirick, located in Colliers' Valencia and Encino offices respectively, are handling the leasing and sales for Sierra Pelona Medical Center.

Recently, Healthcare Real Estate Insights™ announced that Meridian's DaVita Stevens Creek medical facility in San Jose, Calif., won top honors in the category of New Medical Office Buildings and Other Outpatient Facilities (Less than 25,000 square feet) in the HREI Insights Awards™ program, the only national awards totally dedicated to recognizing excellence in the areas of healthcare real estate (HRE) development and executive leadership. The awards were presented in nine different categories during the RealShare Healthcare Real Estate Conference in Scottsdale, Ariz., in December.

About Meridian
A division of Marcus & Millichap Company, San Ramon, Calif. based Meridian Property Company is a full-service real estate developer having completed over one million square feet of innovative and integrated commercial office, primarily medical, since its inception in 2000. Meridian’s services are broad in scope but meticulous in detail -- from site evaluation and land acquisition to entitlement and planning to construction and management. For more information, see mpcca.com.

Media Contact
Anne Monaghan / Monaghan Communications
925.302.1400
***@monaghanpr.com

Photo:
http://www.prlog.org/12279271/1

--- End ---

Click to Share

Contact Email:
***@monaghanpr.com Email Verified
Source:Meridian Property Company
City/Town:Palmdale - California - United States
Industry:Medical, Property
Tags:Meridian Property, medical office building, palmdale, Real Estate
Shortcut:prlog.org/12279271
Disclaimer:   Issuers of the press releases are solely responsible for the content of their press releases. PRLog can't be held liable for the content posted by others.   Report Abuse

Latest Press Releases By “

More...

Trending News...



  1. SiteMap
  2. Privacy Policy
  3. Terms of Service
  4. Copyright Notice
  5. About
  6. Advertise
Like PRLog?
9K2K1K
Click to Share