WATSONVILLE—Meridian, a Walnut Creek-based real estate developer, operator, and owner of medical properties, announced Monday that it has closed escrow on the sale of its new construction, a 11,424-square-foot outpatient dialysis clinic in Watsonville.
The purchase price for the project was $6.7 million.
The outpatient clinic is located at 5 Nielson St., adjacent to the Watsonville Community Hospital and less than a mile from the Watsonville Airport. Meridian acquired two parcels totaling 1.15 acres in February 2020 to build 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.”
Conn said that once Meridian identified the right site, they partnered with their seller and the city of Watsonville and moved forward with the project, which was built move-in ready and to industry standards in less than eight months.
“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,” Conn said.
According to a press release from Meridian, a private buyer was looking to diversify their portfolio into healthcare with a single-tenant leased investment. Together, Meridian and the buyer were represented by Chris Sheldon, Executive Director at Cushman & Wakefield’s San Francisco office in the sale transaction.