Cotton Medical Center in Pasadena Receives National Award for Excellence in Healthcare Real Estate

Published : Monday, December 11, 2017 | 5:45 PM

Cotton Medical Center, a 115,000-square-foot, two-building medical office complex near the Huntongton Hospital in West Pasadena, has been awarded the prestigious 2017 HREI Insights Award in the category of Best Renovated or Repurposed Healthcare Facility, an announcement by the facility’s owners, Meridian Property Management, said.

The award is sponsored by Healthcare Real Estate Insights (HREI) magazine and is the only national award program dedicated to recognizing excellence in the areas of healthcare real estate development and executive leadership.

Located at 50 Alessandro Place and 50 Bellefontaine Street, Cotton Medical Center is located near Huntington Memorial Hospital, and to a new Shriners Hospital for Children which opened in October. The 2.8-acre office complex consists of a four-story 52,000-square-foot building at 50 Bellefontaine Street, plus a five-story 63,000-square-foot building, and an adjacent subterranean parking garage on 50 Alessandro Place.

Cotton Medical Center was Meridian’s first ambulatory outpatient value-added medical office acquisition in Southern California.

“We wanted to make sure we capitalized on this opportunity by not only modernizing the buildings, but also improving the patient experience,” John Pollock, Meridian CEO, said. “We made all of the upgrades as energy-efficient as possible, which has resulted in 15 percent lower operating expenses and a more environmentally-friendly building. Overall the upgrades have provided hospital-affiliated doctors an upscale environment for easier physician recruiting and overall patient experience.”

Meridian purchased Cotton Medical in January 2016 for $37.5 million, representing Meridian’s largest building acquisition and its eighth medical office building transaction in the last 12 months.

The company immediately embarked on a more than $5 million modernization program, upgrading the outdated 1970s interiors and common waiting areas and including efficiency, safety, ADA and machinery improvements. Meridian also added fire sprinklers to the buildings which now allows for additional uses such as dialysis, sleep centers and surgery centers.

“We made all of the upgrades as energy-efficient as possible, which has resulted in 15 percent lower operating expenses and a more environmentally-friendly building,” Pollock said. “Overall the upgrades have provided hospital-affiliated doctors an upscale environment for easier physician recruiting and overall patient experience.”

Meridian’s 12,750-square-foot two-story medical office building in Oakland, California, was the award winner for Best New Medical Office Buildings and Other Outpatient Facilities under 25,000 square feet.

This is Meridian’s fourth HREI National award in four years. In 2013, Meridian was honored with a Best New Medical Office Buildings and Other Outpatient Facilities under 25,000 square feet for its outpatient clinic located in San Jose, California; in 2015, the company won Best Renovated or Repurposed Healthcare Facility for its medical office building located in Rohnert Park.

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