Meridian announced the acquisition of 55 E. California Boulevard, a 32,052-square-foot medical office building located adjacent to Huntington Hospital in Pasadena, California. Concurrent with the acquisition, Meridian finalized a long-term lease with The Huntington Physicians, A Medical Care Foundation Organization, an affiliate of Huntington Health and Cedars-Sinai Health System, for the entire second floor of the property.
The acquisition represents the culmination of nearly a year of planning, entitlement work and leasing activity. Meridian entered escrow on the property in September 2025 and worked with the City of Pasadena updating its zoning code to permit medical office use as a conforming use within the applicable zoning district. The City approved the zoning text amendment in June 2026, eliminating a long-standing legal nonconforming use issue and clearing the way for Meridian's acquisition and repositioning strategy.
As part of the repositioning effort, Meridian has secured a new 10-year lease with The Huntington Medical Foundation covering approximately 10,619 square feet on the building's second floor. CBRE's Angie Weber represented Meridian, and Jackie Benavidez and Damon Feldmeth represented Huntington Medical Foundation in the lease transaction. CBRE’s Mark Shaffer and Cody Chiarella represented Meridian in the sale transaction.
Located immediately adjacent to Huntington Hospital, 55 E. California occupies a highly visible gateway location within Pasadena's healthcare corridor. Meridian plans to implement a comprehensive capital improvement program that includes lobby renovations, exterior façade enhancements, ADA upgrades, building systems modernization and updated signage. The improvements are designed to elevate the property from a Class B asset to a premier medical office destination serving physicians, outpatient providers and healthcare-related users.
The property was acquired for approximately $13.35 million and is part of Meridian's continued focus on healthcare real estate investments throughout the Western United States.
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