Meridian, a full-service real estate developer and owner of medical office real estate has completed renovation of a 26,000-square-foot multi-tenant medical office building located in Los Angeles County at 3531 Fashion Way, Torrance, California.
The property sits directly across the street from the Del Amo Fashion Center, one of the nation’s largest malls, which recently completed a $300 million modernization. The medical office building also benefits from proximity to two major hospitals, including the 436-bed Providence Little Company of Mary Medical Center and the 401-bed Torrance Memorial Medical Center.
Meridian acquired the building in December 2018, when it was 100% vacant. “The property was being marketed as a redevelopment opportunity due to the vacancy, building age and location,” said Meridian Vice President of Acquisitions, R.J. Sommerdyke. “Given our comprehensive experience in medical office, we were excited to jump on this opportunity as part of our value-add business strategy.”
Meridian hired general contractor, AGI, Twinsteps Architects and Kier & Wright Civil Engineers to assist on the project. The renovation budget was $2.5 million and included a new façade to the building, new exit and entry ways, and a new lobby.
Meridian delivered the project in just 16 weeks.
The building has approximately 12,000 square feet still for lease. Please contact Meridian at firstname.lastname@example.org for more information.
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