Premier Business Centers




The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
April 14, 2021
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?





NORTHERN CALIFORNIA NEWS
Printer-friendly Version   Email an Associate
Investor Pays $588/sf for NoCal Dialysis Clinic

3/23/21

A 1031 exchange investor purchased a newly constructed, 11.4k sf outpatient dialysis clinic in Watsonville, CA for $6.7 mil ($588/sf). The deal had a closing cap rate of 5.15%.

The outpatient clinic is located at 5 Nielson Street Rd and is campus-adjacent to the Watsonville Community Hospital and less than a mile from the Watsonville Airport. It was sold by Meridian.

Meridian acquired the site in February 2020. The purchase was an infill assemblage of two parcels totaling 1.15-acres on which they built the Watsonville dialysis clinic.

“We had been working on finding a suitable site near the hospital dating back to 2015,” said Mike Conn, Chief Development Officer at Meridian. “We determined there was a need in the community for patients and family members who were traveling long distances to get this life-saving treatment. Once we identified the perfect site, we partnered with our seller and the City of Watsonville to make the vision a reality. This type of project fits within our mission and vision to provide better access to care at a more affordable cost across the continuum of care. The project was built turn-key to OSHPD3 standards in less than eight months through a real team effort.”

The architect was Harriman Kinyon Architects, out of Walnut Creek. Kier and Wright of Livermore was the civil engineer, and the general contractor was AGI General Contracting, from Stanton.

The buyer was was looking to diversify their portfolio into healthcare with a single-tenant leased investment. Meridian and the private buyer were both represented by Chris Sheldon with Cushman & Wakefield. Meridian also recently acquired a 185k sf medical building in Tucson, AZ and currently owns and manages healthcare properties throughout the western United States.




Return to the previous page


 


 


 


 
 





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2021 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media