Kaiser Permanente Inks $7M Industrial Lease

LIVERMORE, CA-Healthcare provider Kaiser Permanente has leased 125,000-sf of high cube distribution space here for staging equipment and furniture that will be going into the new medical office buildings the company is building throughout Northern California.The space Kaiser is taking is within the 1.1 million-sf Amador Business Center at 7150 Patterson Pass Rd. The property is owned by Legacy Partners. The term of the lease is seven years. The lease is valued at $6.95 million.Eric Cross with Cross & Associates and Ned Wood with Colliers International represented Kaiser Permanente in the transaction. Mark Dowling with Grubb & Ellis represented the landlord, Legacy Partners.”This is an extremely large deal for Livermore,” says Wood. “This deal helps to remove a huge block of empty space off the market, lowering Livermore’s industrial vacancy rates and hopefully give our leasing market some traction.”Founded in 1945, Kaiser Permanente is a not-for-profit, group practice prepayment program. The program serves the health care needs of over 8.2 million members in nine states and the District of Columbia. The company includes the nonprofit Kaiser Foundation Health Plan Inc., Kaiser Foundation Hospitals and the for-profit Permanente Medical Groups. Kaiser is also affiliated with Seattle-based Group Health Cooperative.