Meridian Sells Dialysis Clinic in Northern L.A. County
- Nov 16, 2016
Los Angeles—Meridian Property Co. recently completed the sale of a medical building in Palmdale, Calif., for a total of $7 million. The dialysis clinic is located in the proximity of the new Palmdale Regional Medical Center. The buyer is a private investor from the state’s Central Valley area. The transaction was arranged by CBRE representatives Gary Stache and Bryan Lewitt on behalf of Meridian, while the buyer was represented by Five Star Land Co., Inc.
Located at 38454 5th St. West in Los Angeles County, the 13,750-square-foot building traded at a cap rate of 5 percent. This is the second dialysis clinic that Meridian has disposed in 2016, following the sale of a San Rafael, Calif. asset.
“Having a visible outpatient facility provides easy access and convenience for patients and staff as they don’t have to navigate large and often confusing hospital entrances and parking garages,” Pollock noted. A division of Marcus & Millichap Co., Meridian developed the clinic in seven months. “Speed to market, branding, and market share are becoming extremely important as providers compete for patients and physician groups,” Meridian Senior Vice President of Development, Mike Conn, said.
Image courtesy of Meridian