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December 5, 2023
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Meridian Acquires Stockton Property for Development of State-of-the-Art Medical Facility


Meridian has acquired a 7.5k sf building in Stockton, CA for $1.25 mil.

The building sits on 2.06 acres at 7500 West Lane, which is positioned directly across the street from Kaiser Permanente’s Stockton Medical Offices and within a five-minute walk to restaurants and retail amenities including Costco. Meridian purchased the property to develop a new ambulatory outpatient clinic for its client.

“Once the existing building is vacated, we plan to demolish it in order to make space for the new larger facility,” said Meridian Director of Acquisitions, Lorenzo Brooks. “The new facility will be a state-of-the-art 13.6k sf OSHPD3 outpatient clinic. Construction is scheduled to begin in the next few months and should take less than a year to complete.”

Brian Peterson with CBRE’s Stockton office represented the seller, The Builders’ Exchange of Stockton. The new project will be designed by Harriman Kinyon Architects of Walnut Creek, Kier & Wright Civil Engineers of Livermore, and constructed by H2 Builders of Napa, CA.

This acquisition represents Meridian’s first purchase in 2018 and the company currently has several other properties in escrow. Moreover, Meridian will begin construction on outpatient facilities in Long Beach and Modesto in the next few months, and recently completed the construction of two outpatient facilities located in Oakland and Castro Valley, California.

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