Center for Elders’ Independence (CEI) has signed a lease for approximately 23,000 square feet at Meridian’s recent medical office conversion, Broadway Medical Plaza in the Pill Hill area of Oakland. Sid P. Ewing of Colliers represented Meridian in the lease transaction, and Douglas Hubert and Steve Polito of Sabre Real Estate Group represented CEI for its sixth Bay Area location.

Located at 3901 Broadway, Broadway Medical Plaza was a former assembly hall within blocks of the UCSF Benioff Children’s Hospital, Sutter Health, and Kaiser medical campuses. Meridian acquired the 1.25-acre site and building in 2022 to convert it into a 60,000-square-foot medical facility along with a new parking structure.

“As soon as we toured this building, we knew it had the bones to repurpose for medical space,” said Meridian CEO Mike Conn. “It had great zoning and infrastructure, including the ability to house an ambulatory surgery center as well as the footprint to construct a 220-stall parking garage. We recently wrapped up construction of the shell and are eager to complete the CEI buildout.”

Meridian has purchased a vacant 94,569-square-foot medical building in Tucson located at 4888 N. Stone Avenue on a 9.27-acre parcel. The property will be fully occupied by El Rio Health, an affordable healthcare provider in Tucson for 54 years.

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, an affiliate of Tenet Health, in the sale.

Meridian Design Build recently completed construction on a 300,000 SF climate-controlled seed storage and distribution facility for Corteva Agriscience and developer Scannell Properties in Anderson, Indiana. The new building, located at 4210 W. 67th Street, is Corteva’s largest warehouse and distribution center in North America.

The new facility is constructed on a 30-acre site and includes 100,000 square feet of refrigerated/ humidity-controlled cold storage, as well as an adjacent dry storage area accessible via high-speed roll-up doors. The building features 25 loading docks, 2 drive-in doors, a storm shelter, and 4,000 square feet of office space.

Meridian completed the project on a design/build basis, with Curran Architecture providing architectural design services and American Structurepoint Inc. handling the civil engineering design square feet

Meridian Capital Group arranged $9.3 million in financing to refinance a fractured condominium property in Tallahassee. The loan was provided by a credit union and was negotiated by Meridian senior managing director Morris Betesh, managing director Tamir Kazaz and VP Morris Dabbah, all based in the company’s New York City headquarters.

Located at 3000 S. Adams St. in Tallahassee, the property features 122 units. All were recently renovated and are located within six miles of Florida A&M University, Florida State College and Tallahassee Community College. It’s also convenient to Tallahassee International Airport, the Florida State Capitol and three local golf courses within three miles.

“We are extremely grateful to have worked hand-in-hand with a lender who had a keen eye for strong collateral and sponsorship, and were able to close a fixed-rate, cash-out refinance just prior to stabilization as our client was progressing nicely through lease-up” said Betesh. “Fractured condominium deals are always a bit nuanced, so getting this across the finish line in a market with tightening liquidity is a big win for all parties involved.”