SAN RAMON, CALIF. – November 17, 2015 – (RealEstateRama) — Meridian, a full service real estate developer and owner of medical real estate, is pleased to announce that two of its projects have been selected as finalists in the 2015 HREI Insights Awards in the “Best New Medical Office Buildings under 25,000 square feet.” and “Best Renovated or Repurposed Healthcare Facility” categories. Healthcare Real Estate Insights (HREI) is a national magazine that covers health care real estate development, financing, and investment.
Meridian’s 69,000-square-foot two-story medical office building in Rohnert Park, Calif. was selected in the category of Best Renovated or Repurposed Healthcare Facility. When Meridian first acquired the building, the ground floor was occupied by Kaiser Permanente, while the second floor, which was previously occupied by an office tenant, had been vacant for over a year. The city of Rohnert Park at that time had only 1.29 doctors per 1,000 residents, well below the national average, according to Pollock. In eight months and at a cost of over $6 million dollars in tenant improvements, Meridian was able to help satisfy this shortage by converting the entire second floor to a fully-operational medical office building, while not interfering with the operations of the downstairs tenant Kaiser Permanente.
Pollock adds, “Meridian targets buildings from 15,000 to over 100,000 square feet that are located within healthcare nodes with strong providers.”
The winners of HREI Insights Awards will be announced at an awards ceremony at the RealShare Healthcare Real Estate Conference in Scottsdale, Ariz., December 3, 2015.