City Approves Medical Office Conversion

Dettling tells GlobeSt.com that the space is available for conversion because a tenant recently moved out of a large block of space. The building is owned by TWS Realty LLC, and Ramsey-Shilling Healtcare has the listing on the space.

[IMGCAP(2)]According to Dr. Howard Strom, who recently joined the real estate advisory firm as its medical associate, the building has excellent potential for a large multi-specialty medical group, surgery center or rehabilitation facility. Dettling points out that the conversion will require significant plumbing and full medical build-out—an expensive proposition that many landlords would not want to consider. But the tradeoff is higher rents and quality credit tenants staying longer, Dettling says.

The conversion of the general office space to medical uses follows another unusual move involving the medical office space market in L.A.--Strom's recent decision to join Ramsey-Shilling Commercial Real Estate Services to begin a new career in commercial real estate. Strom, an M.D. who headed a medical consulting service before joining Ramsey-Shilling, also was a corporate medical director for ARCO for 20 years.

[IMGCAP(3)]Ramsey-Shilling, the Los Angeles affiliate of CORE Network, is a 55-year-old locally based firm that has recently expanded with the opening of an office in Valencia, CA to serve the North County area. The new office is at 28422 Constellation Rd. and is headed by Sam Caloroso, a former Farmers Insurance district manager who was with Farmers for 21 years. Caloroso also has commercial real estate experience, having developed several buildings in the surrounding area.

According to Mark Evanoff, Ramsey-Shilling president, the company believes the North County area provides significant opportunities for growth. Besides brokerage, Ramsey-Shilling provides a wide range of real estate advisory services, Evanoff notes.