SAN RAFAEL, CA—A 10,652-square-foot medical clinic located at 1415 Third St. has been completed, according to Meridian, a developer and owner of medical real estate. This was a ground-up, urban infill development project that began with full demolition of the original existing building. DaVita Healthcare Partners will occupy the entire building.
Meridian COO John Pollock tells GlobeSt.com: "Due to the challenging shape of the parcel, Meridian chose to build a podium-style building which brought on new challenges of its own. Meridian had to essentially re-establish grade while providing 12 foot of clearance in the parking garage and keeping the clinic to an overall height of 35 feet. The only way to achieve this was with the use of a post-tension slab. After multiple design reviews and planning commission hearings, a lot line adjustment, many agreements with the neighbors to obtain necessary easements and temporary construction licenses, and additional unforeseen changes to the design and architecture, Meridian was able to complete the building on budget, and on time."
Because the site couldn't support a 4/1000 parking ratio, Meridian decided to purchase the neighboring historic Victorian triplex. "Renovating a single-family home was definitely out of the norm for us but we wanted to make this location work for our tenant," further added Pollock. "We purchased the adjoining property and reverted the triplex into a single-family home, which we were able to quickly sell, and then change the lot line to provide the additional land for our medical/office building parking."
During the past 12 months, Meridian has completed transactions totaling 400,000 square feet (including acquisitions, leases and/or dispositions), with another 250,000 square feet in the pipeline. In Berkeley, CA, Meridian is investing an estimated $2.6 million into a building it acquired in late February 2015. The 15,915-square-foot medical office building located at 2920 Telegraph Ave. recently received city approval to continue as a medical facility. The hazardous material abatement and interior demolition have been completed, and construction on the exterior upgrades is expected to commence in August.
In Pleasanton, CA, Meridian is renovating a building it purchased at the end of January 2015, The Atrium, a fully occupied 74,000-square-foot professional office building at 5776 Stoneridge Mall. Renovations and upgrades are underway, and Meridian plans to invest an estimated $1 million in improvements.
Meridian has completed an extensive renovation of its 69,000-square-foot medical office building at 5900 State Farm Dr. in Rohnert Park, CA. The firm has spent more than $5 million on renovations, which included converting a general office space to an OSHPD III medical space on behalf of its new tenant, Rohnert Park Health Center. Rohnert Park Health Center expects to open at the end of this month and will occupy the entire second floor. Kaiser Permanente occupies the ground floor.
A division of Marcus & Millichap Company, San Ramon, CA-based Meridian is a full-service real estate developer having completed more than 1 million square feet of primarily medical space since its inception in 2000. Meridian's services include site evaluation and land acquisition to entitlement and planning to construction and management.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
