Meridian Buys 94K-SF Tucson Healthcare Facility

Meridian has purchased a vacant 94,569-square-foot medical building in Tucson at 4888 N. Stone Avenue on a 9.27-acre parcel for $8 million. El Rio Health, an affordable healthcare provider in Tucson for 54 years, will fully occupy the property. Tenet Healthcare was the seller.

Meridian plans to invest significant capital into renovations and upgrades immediately. The former Tucson Heart Hospital, which has been vacant for 15 years, will be converted into a state-of-the-art health center. In addition, the project plans to install Class A custom tenant improvements fully designed to meet El Rio Health’s service line needs. Construction is estimated to begin later this month, with completion anticipated in early 2026.

Rick Kleiner of Cushman & Wakefield | PICOR represented Meridian on the acquisition and El Rio Health on the lease. Vince Femiano and Kate Morris of Transwestern represented the seller.