The site will ultimately be developed as a hospital and medical campus totaling approximately 900,000 sf, according to one of the brokerage firms in the deal. According to a source at the Oakland-based HMO, there are no current plans for developing the site.
Kaiser was represented by Eric Cross of Cross & Associates in Alameda and Ned Wood of Colliers International's Pleasanton office. The Lin family was represented by Jim Tong of Pleasanton-based Charter Properties. None of the brokers involved returned phone calls seeking comment.
As part of its current 10-year, $10 billion capital plan, Kaiser has new medical centers planned or under construction in Antioch, Modesto and Vacaville, but makes now mention of any new development in Dublin. Kaiser also is seismically retrofitting properties in Oakland and Vallejo.
The new Antioch Medical Center will add a 570,400-sf medical facility to the existing 60,600-sf medical office building that opened in 2003 on Deer Valley Road. The new facilities will include 340,400 sf of hospital space and 230,000 sf of medical office space. Project completion is slated for 2007.
Kaiser controls 60 million sf of buildings, most of it in California. In December, Kaiser Permanente tapped Jones Lang LaSalle to be its real estate advisor for the next four years.
Earlier in 2005, Kaiser bought four Pleasanton office buildings from Oracle. The space is being used to consolidate its information technology division.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
