The end result was an elaborate split HVAC system, where there was a separate HVAC enclosure at grade level and no motorized equipment on the roof. Despite the inherent challenges in estimating and completing renovations on an old building, Meridian came in at budget by working closely with the project team and tenant to creatively solve these challenges, the firm says.

In order to get the acquisition price at a level that would result in affordable rent, Meridian offered the seller the opportunity to own the renovated building upon completion and Meridian agreed to sell at a compelling price. Meridian sold the property back to the original seller and closed escrow last month. The building is occupied by DaVita Walnut Creek West Dialysis Center.

This provider wanted a highly visible location within this retail sector of Rossmoor, Pollock tells GlobeSt.com.“This is another example of the continued 'retailization' of healthcare.”

He explains that the building had sat vacant for a number of years after the post office closed and was “really a blight to the neighborhood” when Meridian purchased it. “To realize the vision of this outpatient clinic in a former post office it required pushing all stakeholders outside their comfort zone from the; City, architect, provider, traffic engineer and general contractor.” Meridian obtained a conditional use permit from the City to change the use to medical, he adds.