{"id":1004203990,"date":"2018-01-17T13:30:23","date_gmt":"2018-01-17T21:30:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004203990"},"modified":"2022-12-08T12:33:39","modified_gmt":"2022-12-08T20:33:39","slug":"meridian-buys-3-asset-mob-portfolio-in-la","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/meridian-buys-3-asset-mob-portfolio-in-la\/","title":{"rendered":"Meridian Buys 3-Asset MOB Portfolio in LA"},"content":{"rendered":"<p>By Alex Ciorogar<\/p>\n<div id=\"attachment_1004203992\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Long-Beach-Downtown-Rendering_sm.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004203992\" data-attachment-id=\"1004203992\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/meridian-buys-3-asset-mob-portfolio-in-la\/long-beach-downtown-rendering_sm\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Long-Beach-Downtown-Rendering_sm.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Long Beach Downtown Rendering_sm\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Long Beach Downtown Rendering_sm&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Long-Beach-Downtown-Rendering_sm.jpg?w=800\" class=\"wp-image-1004203992 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Long-Beach-Downtown-Rendering_sm.jpg\" alt=\"Rendering of 1078-1090 Atlantic Blvd. in Long Beach, Calif.\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Long-Beach-Downtown-Rendering_sm.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Long-Beach-Downtown-Rendering_sm.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Long-Beach-Downtown-Rendering_sm.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004203992\" class=\"wp-caption-text\">Rendering of 1078-1090 Atlantic Blvd. in Long Beach, Calif.<\/p><\/div>\n<p>Meridian has acquired three assets\u00a0on five parcels totaling 29,000 square feet in Downtown Long Beach, Calif., for $2.45 million. The company also plans to spend approximately $3.1 million on repurposing an existing, two-story 8,280-square-foot building into a new single-story 9,200-square-foot Type V-A ambulatory, out-patient clinic that meets OSHPD 3 requirements.<\/p>\n<p>The company will preserve 50 percent of the existing exterior walls to maintain grandfathered status on legal non-conforming setbacks and parking. It will also abate all friable asbestos and lead-based paint, while concurrently performing restoration activities. The exterior of the building will receive updated wall cladding and stone to match the building\u2019s current exterior, as required by the city.\u00a0The remainder of the building will receive a new stucco finish, eyebrow canopies and a new storefront entry.<\/p>\n<p>The project will also receive new utilities, Title 24 energy upgrades, a new roof, new HVAC units, a new parking lot and drought-resistant, water-efficient landscaping. Meridian will demolish two existing structures on site and merge the lots to create a single parcel for the development. Located at 1078-1090 Atlantic Blvd., the medical office building will house a dialysis clinic, which will provide treatment to patients who suffer from end-stage renal disease.<\/p>\n<h2><strong>Attracting Highly Skilled Employees<\/strong><\/h2>\n<p>Coldwell Banker Commercial President &amp; Principal Becky Blair represented Meridian in their second purchase in Southern California, while Dan Weil, vice president at Colliers International\u2019s Los Angeles office, represented the seller, a local private investor.<\/p>\n<p>Demolition will begin this month, and construction will be completed by the end of the year. The value of the project upon completion is estimated to be $8.4 million. Dignity Health\u2019s St. Mary\u2019s Medical Center\u2014a 389-bed, Level II Trauma Center\u2014is located nearby.<\/p>\n<p><em>\u201cThere are currently over 1,000 residential units and 700,000 square feet of commercial space either in the planning phases or under construction in the area,\u201d<\/em> said John Pollock, CEO of Meridian, in prepared remarks. <em>\u201cThe clinic will bring highly skilled jobs to the area as well, including a nephrologist medical director, nurses, bio-technicians, facility administrators and social workers.\u201d<\/em><\/p>\n<p>In a recent deal, Meridian purchased The Laguna, a 57,057-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/meridian-expands-socal-portfolio\/\">medical office building<\/a> in Laguna Hills, Calif., expanding the firm\u2019s portfolio in Southern California.<\/p>\n<p><em>Image courtesy of Meridian<\/em><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The project also includes the repurposing of an existing, two-story 8,280-square-foot building into a new single-story 9,200-square-foot Type V-A ambulatory, outpatient clinic.<\/p>\n","protected":false},"author":928,"featured_media":1004203992,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21782,21825,21783,1594,21754,21742,15],"tags":[34693,37671,33332],"class_list":["post-1004203990","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-development","category-finance","category-investment","category-los-angeles","category-medical-office","category-latest","category-west","tag-coldwell-banker-commercial","tag-john-pollock","tag-meridian"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Meridian Buys 3-Asset MOB Portfolio in LA - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/meridian-buys-3-asset-mob-portfolio-in-la\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Meridian Buys 3-Asset MOB Portfolio in LA\" \/>\n<meta property=\"og:description\" content=\"The project also includes the repurposing of an existing, two-story 8,280-square-foot building into a new single-story 9,200-square-foot Type V-A ambulatory, outpatient clinic.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/meridian-buys-3-asset-mob-portfolio-in-la\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-17T21:30:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T20:33:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Long-Beach-Downtown-Rendering_sm.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Alex Ciorogar\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/meridian-buys-3-asset-mob-portfolio-in-la\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/meridian-buys-3-asset-mob-portfolio-in-la\/\",\"name\":\"Meridian Buys 3-Asset MOB Portfolio in LA - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/meridian-buys-3-asset-mob-portfolio-in-la\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/meridian-buys-3-asset-mob-portfolio-in-la\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Long-Beach-Downtown-Rendering_sm.jpg\",\"datePublished\":\"2018-01-17T21:30:23+00:00\",\"dateModified\":\"2022-12-08T20:33:39+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/b4a70df0ad52ca9767a9e26548ab1aad\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/meridian-buys-3-asset-mob-portfolio-in-la\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/meridian-buys-3-asset-mob-portfolio-in-la\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/meridian-buys-3-asset-mob-portfolio-in-la\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Long-Beach-Downtown-Rendering_sm.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Long-Beach-Downtown-Rendering_sm.jpg\",\"width\":800,\"height\":620,\"caption\":\"Long Beach Downtown Rendering_sm\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/meridian-buys-3-asset-mob-portfolio-in-la\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Meridian Buys 3-Asset MOB Portfolio in LA\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/b4a70df0ad52ca9767a9e26548ab1aad\",\"name\":\"Alex Ciorogar\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/57629d9a1f3cafa2e0034d4c9eec0860dec17daedc3f7eded7f733c09311cae9?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/57629d9a1f3cafa2e0034d4c9eec0860dec17daedc3f7eded7f733c09311cae9?s=96&d=mm&r=g\",\"caption\":\"Alex Ciorogar\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/alexciorogar\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Meridian Buys 3-Asset MOB Portfolio in LA - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/meridian-buys-3-asset-mob-portfolio-in-la\/","og_locale":"en_US","og_type":"article","og_title":"Meridian Buys 3-Asset MOB Portfolio in LA","og_description":"The project also includes the repurposing of an existing, two-story 8,280-square-foot building into a new single-story 9,200-square-foot Type V-A ambulatory, outpatient clinic.","og_url":"https:\/\/www.commercialsearch.com\/news\/meridian-buys-3-asset-mob-portfolio-in-la\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2018-01-17T21:30:23+00:00","article_modified_time":"2022-12-08T20:33:39+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Long-Beach-Downtown-Rendering_sm.jpg","type":"image\/jpeg"}],"author":"Alex Ciorogar","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/meridian-buys-3-asset-mob-portfolio-in-la\/","url":"https:\/\/www.commercialsearch.com\/news\/meridian-buys-3-asset-mob-portfolio-in-la\/","name":"Meridian Buys 3-Asset MOB Portfolio in LA - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/meridian-buys-3-asset-mob-portfolio-in-la\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/meridian-buys-3-asset-mob-portfolio-in-la\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Long-Beach-Downtown-Rendering_sm.jpg","datePublished":"2018-01-17T21:30:23+00:00","dateModified":"2022-12-08T20:33:39+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/b4a70df0ad52ca9767a9e26548ab1aad"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/meridian-buys-3-asset-mob-portfolio-in-la\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/meridian-buys-3-asset-mob-portfolio-in-la\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/meridian-buys-3-asset-mob-portfolio-in-la\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Long-Beach-Downtown-Rendering_sm.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Long-Beach-Downtown-Rendering_sm.jpg","width":800,"height":620,"caption":"Long Beach Downtown Rendering_sm"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/meridian-buys-3-asset-mob-portfolio-in-la\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Meridian Buys 3-Asset MOB Portfolio in LA"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/b4a70df0ad52ca9767a9e26548ab1aad","name":"Alex Ciorogar","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/57629d9a1f3cafa2e0034d4c9eec0860dec17daedc3f7eded7f733c09311cae9?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/57629d9a1f3cafa2e0034d4c9eec0860dec17daedc3f7eded7f733c09311cae9?s=96&d=mm&r=g","caption":"Alex Ciorogar"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/alexciorogar\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Long-Beach-Downtown-Rendering_sm.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004203990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/928"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004203990"}],"version-history":[{"count":8,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004203990\/revisions"}],"predecessor-version":[{"id":1004613485,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004203990\/revisions\/1004613485"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004203992"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004203990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004203990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004203990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}