Mission Medical Plaza opens on
Mission Hospital Regional Medical Center
PACIFIC MEDICAL BUILDINGS (PMB) COMPLETES CONSTRUCTION ON NEW MEDICAL OFFICE BUILDING ON HOSPITAL CAMPUS
MISSION VIEJO, Calif., March 2007 - Pacific Medical Buildings (PMB), a San Diego-based healthcare real estate developer, has completed the development of a new medical office building (MOB) on the campus of Mission Hospital Regional Medical Center.
The Mission Medical Plaza is a five-story, 140,000 square foot facility that includes a 1,505-car parking structure. The $62 million project is located at 26800 Crown Valley Parkway in Mission Viejo.
One of the major tenants in the Mission Medical Plaza is a primary care group with 64,000 square feet of space. The building also houses a 24,000 square foot OB/GYN group, an urgent care clinic and a pharmacy.
PMB faced and overcame a number of challenges regarding this development including a three-year entitlement process, which included a comprehensive Environmental Impact Report. The construction and design process was also complicated by a site made up of two plateaus separated by a 70-foot grade change.
PMB has partnered with St. Joseph Health System (SJHS) on two other successful developments in California; St. Joseph Medical Plaza in Orange and St. Jude Hospital in Fullerton. SJHS owns and operates nine not-for-profit hospitals in California.
Along with PMB, approximately 15 percent of the tenants invested in the project, representing $2.7 million in the ownership of the single-asset LLC. The hospital invested an additional $3 million.
"St. Joseph Health System and PMB have a solid history and a very strong working relationship," says Mark D. Toothacre, PMB President. "This new MOB and the parking structure have made a very positive impact to the physicians and patients in the Mission Viejo community."
About St. Joseph Health System/Mission Hospital Regional Medical Center
Mission Hospital is a member of the St. Joseph Health System (SJHS). SJHS is an integrated healthcare delivery system providing a broad range of medical services. The system is organized into three regions--Northern California, Southern California, and West Texas/Eastern New Mexico - and consists of 14 acute care hospitals, as well as home health agencies, hospice care, outpatient services, skilled nursing facilities, community clinics, and physician organizations. Mission Hospital is a not-for-profit healthcare ministry, is one of three trauma centers in Orange County and is a 301-bed acute care, full-service facility. It includes Mission Regional Trauma Center and 24-hour emergency care; Mission Imaging Center, Mission Heart Center; Mission Maternity Center; Mission Women's Wellness Center and Mission Stroke Center. Mission Hospital also offers the highest level of care in orthopedics, rehabilitation, cancer, spine and vascular services.
About PMB
PMB specializes exclusively in the development and management of medical office buildings, outpatient facilities and parking structures for hospitals, medical groups and universities. For more than 37 years, PMB's executives have led the industry in the development and management of medical care buildings, with 75 healthcare facilities constructed to date throughout the Western United States. The firm currently owns and manages more than 30 facilities totaling more than 2.5 million square feet, and has 12 more facilities under development that will total 750,000 square feet with 2,000 structured parking stalls. The total value of the firm's development projects exceeds $250 million. The San Diego-based firm also has offices in Honolulu; Los Angeles; Phoenix; Vancouver, Wash.; Portland, Ore.; and Nevada.
For more information call 800-472-1005.
