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Follow on Google News | Meridian Sells Dialysis Clinic in Fairfield, Calif. for $5.15 Million, 5.5% Cap RateMeridian Closes 2015 with Sale of Three Dialysis Clinic Properties for $17.5 Million
By: Meridian The Fairfield clinic is located at 1800 North Texas Street in Solano County, midway between the cities of San Francisco and Sacramento. Meridian’s other two clinics that sold were an 11,550-square- According to Meridian COO John Pollock, “Kidney failure, also known as end stage renal disease (ESRD), is a fatal condition unless a kidney transplant is available or a patient undergoes dialysis, in which a machine filters toxins and fluids from the blood outside the body. In-center dialysis patients are treated four hours a day, three times a week. There is a tremendous need to bring these types of services to where patients live.” All three of the properties are located in a retail setting, says Pollock. “This provides easy access and convenience for patients and staff as they don’t have to navigate large and often confusing hospital entrances and parking garages,” Pollock explains. “This type of location also provides the clinics with a highly visible building and signage which contributes to an increased market share. Meridian expects this trend to continue in the coming years given the cost advantage and convenience factor of providing basic services in retail settings as opposed to higher acuity hospitals.” This transaction comes on the heels of Meridian’s sale of its 69,000-square- In early October 2015, Meridian purchased a 19,202-square- “Meridian will be closing out the year with more than 1.3 million square feet in development and acquisition. The properties are located in both northern and southern California,” 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. End
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