SAN RAMON, CALIF. – (RealEstateRama) — Meridian, a full service real estate developer and owner of medical real estate, announced today that industry veteran Dan Rosenbaum has been hired as senior vice president. He will spearhead the development of the company’s new division focused on the acquisition of suburban general office value-add opportunities.
In his new position, Rosenbaum will be responsible for all aspects of acquisition, management and development of general office properties. “With rental rates for Class A buildings in the Bay Area at or near all-time highs, we believe this is a perfect time for Meridian to expand our business into the suburban general office space, and Dan is just the guy to lead our efforts,” said Pollock. “We believe there is an opportunity to reposition well-located Class B buildings to the top of their class while providing more affordable rental rates.” One of Rosenbaum’s first projects at Meridian includes a potential 100,000+ square-foot multi-tenant office/R&D building in Santa Clara County.
Meridian currently owns The Atrium, a three-story, 74,000-square-foot general office building located in Alameda County at 5776 Stoneridge Mall Road in Pleasanton, Calif. “Looking at the competitive landscape in the Bay Area, we don’t see other competitors with a focus on repositioning suburban general office,” said Pollock. “There are numerous buildings that require a lot of work to allow them to be relevant in today’s workplace, the Atrium is a great example of that.”