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Meridian Divests Dialysis Clinic in Oakland

Connect Healthcare is slated for October 29 and 30 at The Resort at Pelican Hill. Follow this link for more information and to register for the conference.

San Ramon, CA-based Meridian sold a 12,754-square-foot dialysis clinic in Oakland for $15.7 million. The transaction works out to a more than $1,230-per-square-foot price, or a cap rate of 5.1%.

The Kase Group represented the buyer, a Fremont, CA-based family office in a 1031 exchange looking to invest in an iconic location that gave them access to the healthcare market. Cushman and Wakefield’s Chris Sheldon represented the seller.

The outpatient dialysis clinic is located at 4242 Broadway, in the North Oakland neighborhood near Kaiser Permanente and Sutter Hospitals on Pill Hill. The site is also close to the MacArthur BART station, Interstate 580, Highway 24 and retail services.

Meridian acquired four lots to create a 19,600-square-foot parcel for ground-up construction of the new, state-of-the-art outpatient healthcare clinic. It required vacating and demolishing three different buildings, while maintaining the structural integrity of a large retaining wall built into the rear of the buildings.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.