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A few years ago, an older, concrete-tilt building that sat vacant in Torrance, CA, went on the market. Multifamily and hotel developers descended with bids, but ultimately the property was won by Meridian—the only healthcare developer at the table.

Meridian purchased the property and went on to turn the tired building into beautiful multi-tenant medical office building, according to CEO John Pollock. “The updated building now conveys a contemporary image with easy to navigate surface parking and updated interiors that provide an excellent patient experience,” he says. The building is now anchored by an outpatient imaging user.

Now Meridian is working on a deal in Orange County, CA, to convert a liberal arts college with ample parking into a healthcare facility. “Repurposing existing buildings allows Meridian to open opportunities in tight urban locations where land is scarce,” Pollock explains. “It also allows us to meet the user’s requirements more quickly and is often less expensive.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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