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Meridian Buys Santa Ana Asset for $20M, Plans MOB Conversion
San Ramon, CA-based Meridian acquired a 53,500-square-foot, two-story medical office building in Santa Ana. The purchase price was $20.35 million, and Meridian plans to invest an additional $5 million in building improvements.
The property is located at 3601 West Sunflower, on a 4.8-acre parcel adjacent to some of SoCo’s newest and most dynamic retail and office projects.
Meridian’s R.J. Sommerdyke says, “The building was being sold 100% vacant and was attractive to us for a variety of reasons. Primarily, we like the market and are strong believers in the transformation that is occurring here. There is a lack of quality medical office product in the area, and there are no large blocks (10,000 square feet and larger) of medical office space available within 3.5 miles of the property.”
NKF’s John Scruggs and Justin Hodgdon represented the buyer. CXI Realty’s Jon Sweeney and NKF’s George Thomson represented the unnamed seller, a local private investor.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


