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6/04/14
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Meridian Property Company has just broken ground on a new outpatient center in downtown San Rafael. Located at 1415 Third St, west of Hwy 101, the 10.5k sf, state-of-the-art medical clinic will serve the residents that live in close proximity to downtown and provide them with convenient access to high quality medical care.
According to Meridian COO John Pollock, the groundbreaking celebration comes after overcoming many challenges including collaboration between stakeholders to purchase multiple parcels, selecting a site in a land-constrained setting, combining architectural styles, finding space for parking, and permit delays. "The development of the new medical clinic required the purchase of two properties; the property at 1415 Third Street, which formerly housed an office building that was demolished in April, and the other, 814 E. Street, a turn-of-the-century Victorian that will be reverted to a single-family home, from its current state as a triplex," said Pollock.
Meridian partnered with architectural design firm San Francisco-based Carey & Co Inc, specialists in restoration projects throughout the Bay Area, to restore the Victorian home. Once restoration of the Victorian is complete, Meridian will be able to reduce the combined parking requirements, create additional underground parking below the clinic, and enable the development of the outpatient center to proceed.
Harriman Kinyon of Walnut Creek is the architect for the outpatient clinic. The design of the new clinic, in keeping with the historical nature of the downtown community, will complement its surroundings, blending the use of natural material, planters, trees and shrubs.
In March 2014, Meridian closed escrow on the purchase of a 69k sf medical office building in Sonoma County, at 5900 State Farm Drive in Rohnert Park, and recently leased the entire second floor to Petaluma Health Center. In February 2014, Meridian sold an 8.4k sf freestanding building at its Sierra Pelona Medical Center campus in Palmdale to Joshua Medical Group, a local family practice.
While the general office vacancy remains at near 20%, according to Keegan & Coppin Company 1st Quarter 2014 report, there is little, if any, contiguous medical space available greater than 10k sf available in the area. Meridian believes that when the new outpatient center in San Rafael is complete in early 2015, the space will be key in attracting larger providers in the area.
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