Stockton, CA

Meridian identified a 3.0-acre parcel of vacant land located in the desirable Brookside neighborhood of Stockton, CA. The surrounding area consisted of an assisted living facility, a Marriott Residence Inn, Brookside Country Club, as well as upscale residential and commercial space. Meridian purchased the parcel with the intent to build a two-story 44,000 SF medical office building consisting of air space condominium units starting at 4,000 SF. Due to low vacancy in the area, Meridian’s strategy included offering space for lease only and selling the entire building once fully leased. Meridian successfully completed the project in twenty-two months resulting in a beautiful new medical facility to serve the surrounding community. Meridian leased most of the building to medical and professional users before selling to an owner user, Delta Health Systems effectively and lucratively fulfilling the initial strategy.