The stability and necessity of medical office space has been a bright spot for commercial investors thanks, in part, to the new emphasis on healthcare caused by COVID-19. Below, three Western-based experts explore the trends that are likely to drive this sector.
The firm’s transaction activity last year was on par with 2019, but shifted from ground-up development to repositioning projects.
Meridian, a full-service real estate developer and owner of medical real estate, announced that the firm has closed escrow on the purchase of El Dorado Medical Plaza, a 187,690-square-foot, three-story combined Class-B medical office building, surgery center and hospital in Tucson, Arizona
Medical office tenants are pushing expansion plans back or opting for short-term renewals during the pandemic.
NEWPORT BEACH, Calif. – Meridian, a full-service real estate developer and owner of medical real estate, is pleased to announce that the firm has closed escrow on the purchase of a 110,400-square-foot, four-story Class-A office building in Irvine, California in a joint venture with Harrison Street, one of the leading investment management firms exclusively focused on alternative real assets. The joint venture plans to invest additional capital in building improvements to convert the building into a Class-A medical office building.
The debate over California's long-standing limit on commercial property tax increases is heading to the finish line after years of contentious jockeying on both sides.
Telehealth Boosted By Pandemic is Here To Stay, California CRE Says
CommonSpirit Health saw telehealth visits increase tenfold in just a few weeks of the coronavirus pandemic, according to Senior Vice President Jeff Land, who heads the health system's national real estate services.
Here we go again.
For all of the pain April seemed to promise, most landlords — with the exception of retail owners —— were left pleasantly surprised: They recouped close to 90% of their expected rents. But as rent comes due again on Friday following the first full month of the U.S. economy’s near-complete shutdown, what May will deliver for landlords is anyone’s guess.
The office market, like many sectors, is taking a step back as we determine what, if any, changes the coronavirus has brought to our industry.
The coronavirus pandemic (COVID-19) has not only impacted the physical health of humans around the world, but the health of the U.S. economy as well. While the stock market rallied over 11 percent on Tuesday, its biggest jump in nearly 90 years, on news that a federal stimulus bill to rescue the economy from the coronavirus was imminent, the Dow Jones Industrial Average was still down 31 percent from its most recent high at the closing bell..
SAN RAMON, Calif. - Meridian, a full-service real estate developer and owner of medical real estate, is pleased to announce that the firm has closed escrow on the purchase of two parcels of vacant land totaling 1.15 acres in Watsonville, California, with the intent to develop an 11,424-square-foot outpatient ambulatory clinic.
A few healthcare real estate trends have emerged as we move away from a fee-for-service model and toward a value-based care model.
SAN RAMON, Calif. - Meridian, a full-service real estate developer and owner of general and medical office real estate, is pleased to announce that it has completed the sale of Sutter Square, a 174,689-square-foot, nine-story office building located at 1800 Sutter Street, near downtown Concord, California, to a joint venture between Barker Pacific Group and Iron Point Partners. The sale price was $30.9 million.
SAN RAMON, Calif. – Meridian, a full-service real estate developer and owner of medical real estate, is pleased to announce that the company has closed escrow on the sale of its new construction, 11,250-square-foot outpatient dialysis clinic in Modesto, California.
SAN RAMON, CALIF. - Meridian, a full-service real estate developer and owner of medical real estate, is pleased to announce that Executive Vice President Mike Conn has been selected as a top “Influencer in Healthcare” by GlobeSt.com and its print publication, Real Estate Forum magazine.
Meridian, a full-service real estate developer and owner of medical real estate, is pleased to announce that the company has closed escrow on the sale of its 13,600-square-foot dialysis clinic in Stockton, California.
Providers and payors have to embrace wellness and focus on population health to bend the cost curve down.
There has been a drastic shift from the traditional on-campus hospital setting into outpatient facilities within communities, says R.J. Sommerdyke of Meridian.
MINNEAPOLIS, Oct. 30, 2019 – Healthcare Real Estate Insights™ magazine is pleased to announce the Finalists of the 2019 HREI Insights Awards™, the first and only national awards dedicated to recognizing excellence in the areas of healthcare real estate (HRE) development and executive leadership.
SAN RAMON, Calif. – Meridian, a full-service real estate developer and owner of commercial real estate, is pleased to announce that the firm has closed escrow on the purchase of a six-story, 100,000-square-foot office building located at 1300 South El Camino Real in San Mateo, California. The seller was DivcoWest and the purchase price was not disclosed. The 72%-leased building is located near downtown San Mateo. The purchase represents Meridian’s largest general office deal to date and its first general office acquisition in the mid-peninsula submarket.
NEWPORT BEACH, Calif. – Meridian, a full-service real estate developer and owner of medical real estate, is pleased to announce that the firm has closed escrow on the purchase of a 53,500-square-foot, two-story medical office building in Santa Ana, California. The purchase price was $20.35 million and Meridian plans to invest an additional $5 million in building improvements.
NEWPORT BEACH, Calif. – Meridian, a full-service real estate developer and owner of medical office real estate, is pleased to announce that it has completed the sale of Cotton Medical Center located at 50 Bellefontaine St. and 50 Alessandro Pl., adjacent to Huntington Memorial Hospital in Pasadena, California.
This has been a roller coaster of a year when it comes to the economy, and many are talking about the potential of a recession happening very soon.
Connect Healthcare is coming up October 2 and 3, 2019 at The Resort at Pelican Hill in Newport Coast, and we’re giving you a preview of some of the insights and knowledge our expert speakers will provide.
Investors are converting office and light industrial properties into medical office to keep up with demand.
NEWPORT BEACH, CALIF. – Meridian, a full-service real estate developer and owner of medical office real estate, is pleased to announce that it has completed renovation of a 26,000-square-foot multi-tenant medical office building located in Los Angeles County at 3531 Fashion Way, Torrance, California.
Meridian CEO John Pollock uses three words to describe the biggest trend in healthcare real estate at the moment: outpatient, outpatient, outpatient.
All-Inclusive Care for the Elderly Health Provider WelbeHealth Signs Major Tenancy Deal at Cotton Medical Center. To open in 14,200 SF at the 115,000 SF medical office complex adjacent to Huntington Memorial Hospital
SAN RAMON, Calif. (May 9, 2019) – Meridian, a full-service real estate developer and owner of medical real estate, is pleased to announce that the company has closed escrow on the sale of its 9,913-square-foot outpatient clinic in Castro Valley, Calif. The purchase price was $7 million, representing a cap rate of 5.0 percent.
Within a refined target of select submarkets, Meridian has a specific investment size, which will vary based on the quality of opportunities, but most investments will be in the $10 million to $75 million acquisition price range.
The Top 5 construction and design trends impacting healthcare real estate.
This is an exciting time for healthcare real estate design and construction. Healthcare fundamentals are strong and continue to evolve with lots of new and continue to evolve with lots of new and private capital flowing into this sector. The hub-and-spoke model and the retailization of healthcare continue to push lower acuity services out into the communities for better and more affordable prices.
NEWPORT BEACH, Calif. - Meridian, a full-service real estate developer and owner of medical real estate, is pleased to announce that the company has closed escrow on the sale of its 9,200-square-foot dialysis clinic in Long Beach, Calif. The purchase price was $8,421,580, representing a cap rate of 5.0 percent.
Meridian, a full-service commercial real estate developer and owner of medical real estate, announced that it has completed the renovation and repositioning of Grunow Memorial Medical Center, a landmark 53,000-square-foot, two-story, medical office building located at 926 East McDowell Road in Phoenix, Arizona.
As a 12-year-old boy living in Northern California in the 1980s, John Pollock remembers helping his dad fix up and renovate old homes.
This experience from an early age laid the foundation of Pollock's love for real estate.
Connect Media wanted to get the scoop on Orange County’s medical office market, so we tracked down Meridian’s Director of Acquisitions for Southern California, R.J. Sommerdyke, who gave us an exlusive interview.
Part of this success rate may be attributed to bringing more healthcare services to where people live and work, in addition to cost cutting, says John Pollock, CEO of Meridian in this EXCLUSIVE. He says lean design principles are as important as the healthcare location.
In past metro highlights we’ve talked about growth markets with lots of construction activity, interesting markets with innovative health systems, metros with the highest sales volume, but what about the tightest markets? The ones with the highest rent growth, the most expensive pricing and the lowest vacancy? Flipping through our Metro Rankings report, San Francisco clearly fits the bill.
NEWPORT BEACH, Calif. – Meridian, a full-service real estate developer and owner of medical real estate, is pleased to announce that the firm has closed escrow on the purchase of a 26,000-square-foot medical office building in Torrance, California.
Mike Conn discussed the popular topic of “medtail” during his panel at Connect Healthcare‘s 2018 conference and R.J. Sommerdyke provides his takeaways from the “REITS, Private Equity, and Foreign Capital Shaking Up the Market” Panel.
In response to the rapid growth of the Phoenix medical office market, Meridian has opened a Phoenix office.
San Ramon, CA-based Meridian recently opened a new office in Phoenix, with plans to expand its development work throughout the southwestern U.S. Connect Media talked with the healthcare real estate firm’s Mike Conn about the convergence of retail and healthcare in our latest Q&A. He’s speaking at Connect Healthcare next week.
Healthcare Real Estate Insights magazine announces the Finalists for the sixth annual awards recognizing excellence in healthcare real estate development and leadership
Suntuitive® Dynamic Glass and Meridian take the Innovative Approach to Health Care Delivery
Meridian CEO, John Pollock and Meridian VP, Indrajit Obeysekere Provide Insights from the ULI Fall Meeting’s “Leadership Day”
PHOENIX, ARIZ. – Meridian, a full-service real estate developer and owner of medical real estate, announced today that industry veteran Sheila Schmidt has been hired as Vice President of Development. She will be based in Meridian’s new Phoenix office...
The past 12 to 18 months have seen a strong uptick in the number of mergers and consolidations among healthcare providers in the United States, and industry experts are still trying to figure out how this activity will impact cash flows, pricing and cap rates for healthcare properties.
It is hard to refute that demographic changes occurring in the United States are having a positive impact on healthcare real estate. Based on the latest U.S. Census data, the number of people age 65 and over is on a steep increase...
SAN RAMON, CALIF. – Meridian, a full-service real estate developer and owner of medical real estate, is pleased to announce that it has closed escrow on the sale of its 12,754-square-foot dialysis clinic in Oakland, California.
Meridian Senior Vice President, Mike Conn, provides his takeaways
Increasing Demand For MOBs In Bay Area Starting To Outstrip Supply
Meridian’s Asset Management Team Discusses Their Favorite Sessions From This Year’s Event
Life Science Market Reaches Into Brisbane With Latest Office Transaction
Meridian’s Mike Conn and Indrajit Obeysekere provide a summary of this year’s conference
Team Meridian provides their takeaways from this year’s highly anticipated Las Vegas event
Meridian CEO John Pollock provides his takeaways from this year's BOMA International’s Medical Office Buildings + Healthcare Real Estate Conference.
Meridian CEO John Pollock provides his takeaways from this year’s Future of Healthcare Event hosted by the San Francisco Business Times.
Increased demand for care, a scarcity of locations and insurance requirements to cover mental health have led to additional interest in this area from healthcare systems, real estate investors and private equity.
Healthcare systems want to be near patients’ homes and workplaces in dense urban markets, which can require creativity, says Meridian CEO John Pollock in the second of a two-part EXCLUSIVE.
Meridian Purchases Vacant Parcel in Modesto to Build 11,250 SF Medical Out-Patient Clinic; This transaction marks Meridian’s 10th acquisition in 24 months.
Meridian CEO John Pollock says it's an exciting time to be in healthcare as he recently discussed the record levels of investment and areas with the most activity in the first of a two-part EXCLUSIVE.
Team Meridian provides takeaways from this year’s BOMA Oakland/East Bay MOB Summit
John Pollock of Meridian discussed elder care and healthcare trends that are more pronounced in the Bay Area due to land/building scarcity and rising costs.
“I think it was just this natural progression,” said John Pollock, a West Coast real estate developer whose firm, Meridian, specializes in adapting retail space for medical offices. “You have this underutilized real estate; you have this need to provide greater care or more care … in areas that are both convenient and visible as health care providers want space.”
John Pollock of Meridian says there has been a tremendous amount of activity in the first quarter, as he discussed the healthcare landscape, new construction and development opportunities.
Meridian CEO John Pollock summarizes his panel discussion from this year’s Bisnow Sacramento Healthcare Event
With 10 years and some creative thinking, a once-abandoned development proposal gets new life. Medical office developer, Meridian, recently completed ground-up construction of a 10,000-square-foot single-tenant medical office building located at 20359 Lake Chabot Rd.
Meridian CEO John Pollock and Senior Vice President Mike Conn provide takeaways from this year’s Revista Medial Real Estate Investment Forum
Meridian, a full-service commercial real estate developer based in California, is pleased to announce the purchase of three existing buildings on five parcels totaling 29,000 square feet of land located in Downtown Long Beach
With healthcare demand showing no signs of waning due to the aging population, cost pressures and technology breakthroughs, more medical facilities are hitting the market across the country, prompting new personnel to manage assets.
Record-breaking office leases and a large pipeline of housing units marked 2017 in the San Francisco Bay Area. Millions of square feet of office will deliver this year as will thousands of housing units. Bisnow asked 11 Bay Area CRE professionals what they are keeping an eye on in 2018, what challenges the Bay Area still faces and what opportunities are still available.
Meridian, a full-service real estate developer and owner of medical and general office real estate, announced today that Linda Shoemaker Haskins has been hired as Vice President, Asset Management.
Meridian, a full-service real estate developer and owner of medical real estate, is pleased to announce that it has received two prestigious 2017 HREI Insights Awards in the categories of “Best Renovated or Repurposed Healthcare Facility” and “Best New Medical Office Buildings and Other Outpatient Facilities under 25,000 square feet.”
Acquisition Expands Meridian’s Southern California Presence
Purchase Represents Meridian‘s First Major Transaction Outside of California
Meridian Ramps Up Investment Efforts in the San Francisco Bay Area
Bisnow Big West Coast Healthcare Event’s Medical Forecast panel discussed some of the perils facing healthcare: cost, patient access and the physician shortage. Meridian CEO John Pollock provides his takeaways.
Meridian, a full-service real estate developer and owner of medical real estate, is pleased to announce that the firm has retained Cypress West Realty Management of Rancho Santa Margarita, Calif., to manage Meridian’s 115,000-square-foot medical office complex in Pasadena, California. CEO John Pollock, categorizes the new partnership as “a strategic move forward.” He continues, “Having completed the extensive renovation of Cotton Medical Center, we now want to focus on providing our tenants and the community best-in-class management services.” Meridian purchased Cotton Medical Center in January 2016 for $37.5 million.
Meridian Acquisition Manager R.J. Sommerdyke provides takeaways from this year's Bisnow Big West Coast Healthcare Event in Los Angeles
Meridian, a full-service office property developer in California, is pleased to announce the purchase of 1000 Marina, a six-story 105,000-square-foot office building in San Mateo County, Calif. The seller was TA Associates, a private equity firm based in Boston, Massachusetts.
There is a growing need for newer, larger and more modern spaces as the older facilities no longer work in a larger group format, says Meridian's John Pollock in this EXCLUSIVE article in preparation for the upcoming RealShare Healthcare event.
Meridian, a full service real estate developer specializing in acquiring and developing real estate facilities for the healthcare sector, that two of its projects have been selected as finalists in the 2016 HREI Insights Awards competition in the “Best New Medical Office Buildings Under 25,000 Square Feet” and “Best Renovated or Repurposed Healthcare Facility” categories.
Meridian, a full-service real estate developer and owner of medical real estate, is pleased to announce that it has closed escrow on the sale of its 13,750-square-foot dialysis clinic in Palmdale, Calif.
The healthcare customer today demands more convenient locations that are adjacent to familiar retail or within normally traveled patterns. This is in contrast to the healthcare sites of old, located in isolated business parks or in standalone buildings...
Meridian, a full service real estate developer specializing in acquiring and developing real estate facilities for the healthcare sector, announced today that senior healthcare executive Indrajit Obeysekere has been hired as vice president of client services.
Meridian is pleased to announce that it has closed escrow on the sale of its 74,000-square-foot multi-tenant office building located in Alameda County at 5776 Stoneridge Mall Road in Pleasanton, Calif.
A big part of the future is in adapting or converting non-medical buildings, such as offices and retail space, into medical facilities, says Meridian VP of construction and development Mike Conn.
Industry veteran Dan Rosenbaum has been hired as senior vice president of Meridian, a developer and owner of medical real estate. He will spearhead the development of the company’s new division focused on the acquisition of suburban general office value-add opportunities.
Meridian, a full service real estate developer and owner of medical real estate, is pleased to announce that it has closed escrow on the purchase of Cotton Medical Center, a 115,000-square-foot medical office complex in Pasadena, California. The sale price was $37.5 million. This purchase represents the largest building acquisition for Meridian and Meridian’s eighth medical office building transaction in the last 12 months.
Health care real estate, particularly medical office properties, promises to continue to post strong occupancy stats in 2016. However, there’s still enough volatility in the sector stemming from the Affordable Care Act aftermath, changes in technology and hospital consolidation to keep growth and transactions to a minimum, according to industry executives.
The rise of one-on-one conferencing with doctors via phone, online or video on either may make data centers a significant sub-sector of healthcare real estate, John Pollock, COO of Meridian, a full service real estate developer and owner of medical real estate throughout California, tells GlobeSt.com.
Meridian, a full service real estate developer and owner of medical real estate, is pleased to announce that the firm’s 69,000-square-foot medical office building located at 5900 State Farm Drive in Rohnert Park, Calif. has received the prestigious 2015 HREI Insights Award in the category of “Best Renovated or Repurposed Healthcare Facility.”
Meridian has sold an 8,700 SF dialysis clinic in Fairfield for $5.15M (at a cap rate of 5.5%), marking the third clinic the company has sold this year. All three are occupied by DaVita Healthcare Partners, a kidney care services provider, and were purchased by private investors. The three sales totaled $17.5M.
Meridian, a full service real estate developer and owner of medical real estate, is pleased to announce that two of its projects have been selected as finalists in the 2015 HREI Insights Awards in the “Best New Medical Office Buildings under 25,000 square feet.” and “Best Renovated or Repurposed Healthcare Facility" categories.
Meridian, a full service real estate developer and owner of medical real estate, is pleased to announce that it has closed escrow on the purchase of a 19,202-square-foot medical office building located in Alameda County at 380 W. MacArthur Boulevard in Oakland, California. Meridian purchased the property from BIC Oakland, LLC of Kentfield, California, in an off-market transaction.
Meridian Property Co has sold a 69k SF Rohnert Park medical office building for $21.5M to a private investor based out of San Mateo. And Meridian COO John Pollock tells us the property at 5900 State Farm Dr is a prime example of the kind of value-add medical office properties that Meridian continues to search for and execute its strategy on.
Nazareth Enterprises Inc, a San Mateo-based private investor, has purchased a 69k sf, medical office building in Sonoma County for $21.5 mil ($312/sf). The building, located at 5900 State Farm Dr, east of the 101 Fwy and north of Rohnert Park Expy in Rohnert Park, was sold by Meridian.
Thanks to technology and the Affordable Care Act, the healthcare industry has entered a new period that won't just affect providers and patients, but real estate developoers as well.
Petaluma Health Center on Aug. 12 plans to open a sizable Rohnert Park medical center, responding to demand for care in southern Sonoma County.
Drive down either side of El Camino Real in Mountain View and you’ll find new construction seemingly everywhere. Courtesy of the city of Mountain View’s Community Development Department, following is the latest update on development projects in the so-called El Camino Real Change Area.
Two Soscol Avenue parcels at the corner of Shetler Avenue are the proposed future home of a drive-through restaurant and a medical office building.
SAN RAMON, CA — Meridian Property Company, a full service real estate developer and owner of medical real estate, is pleased to announce that it has closed escrow on the purchase of a 15,915-square-foot medical office building located in Alameda County at 2920 Telegraph Avenue in Berkeley, California.
SAN RAMON, CA - Locally based Meridian Property Co. has closed escrow on the purchase of the Atrium, a 74,000-square-foot professional office building located in Alameda County at 5776 Stoneridge Mall Road in Pleasanton, CA. Meridian purchased the property from Los Angeles-based Downtown Properties in an off-market transaction..
SAN RAMON, CA — Meridian Property Company, a full service real estate developer and owner of medical and retail real estate, recently closed escrow on the sale of its last two remaining units at Meridian Professional Center in Bakersfield, Calif., a 63,776-square-foot, 11-building medical/office complex situated in Kern County developed and owned by Meridian.
SAN RAMON, CA — Meridian, a full service real estate developer and owner of medical real estate, is a finalist in the 2014 HREI Insights Awards™ in the “Best Renovated or Repurposed Healthcare Facility” category.
It's not without a bit of irony that the growing number of people with a disease caused by poor diet and sedentary living has finally spurred the redevelopment of a long-abandoned fast food eatery.
SAN RAMON, CA — Meridian Property Company, a full service real estate developer and owner of medical and retail real estate, is pleased to welcome its newest tenant, Petaluma Health Center, to the medical office building in Rohnert Park, Calif., located at 5900 State Farm Drive.
SAN RAMON, CA — Meridian Property Company, a full service real estate developer and owner of medical and retail real estate, is pleased to announce that it has closed escrow on the purchase of a 69,000-square-foot medical office building in Sonoma County at 5900 State Farm Drive in Rohnert Park, Calif. Built in 1973 on 4.79 acres, the building...
SAN RAMON, CA — Meridian Property Company, a full service real estate developer and owner of medical and retail real estate, is pleased to announce that it is nearing completion on four state-of-the-art outpatient clinics in California totaling over 40,000 square feet and valued at over $15.2 million. Ranging in size from 8,200 to 12,000 square feet, the four properties are a mix of new construction and the renovation and adaptive reuse of existing commercial space.