ORANGE, Calif., August 2008 – San Diego-based healthcare real estate developer, Pacific Medical Buildings (PMB), has recently opened a new medical office building (MOB) called St. Joseph Medical Plaza on the campus of St. Joseph Hospital, the largest and one of the busiest hospitals in Orange County.
The seven-story, 130,000 square foot MOB is attached to a new three-story Center for Cancer Prevention and Treatment that was being constructed simultaneously. The $57 million project located at 1010 West La Veta Avenue, includes a 1,086-space parking structure.
PMB has partnered with St. Joseph Health System (SJHS) on two other successful developments in California; Mission Hospital in Mission Viejo and St. Jude Hospital in Fullerton. SJHS owns and operates nine not-for-profit hospitals in California.
Physicians who occupy the building invested close to $4.5 million in the single-asset LLC. Along with PMB, the building’s investors included two major oncology groups as well as several cancer-related surgical specialists, which helped secure a solid referral base for the attached cancer center.
“This is the third development project we’ve done for St. Joseph Health System and we were glad to have the opportunity to continue our strong working relationship,” says Mark D. Toothacre, PMB President. “This new MOB is going to be a welcome addition to the campus.”
About St. Joseph Health System/St. Joseph Hospital
St. Joseph Hospital is one of 25 healthcare ministries within the St. Joseph Health System (SJHS), the 10th largest not-for-profit health system in the United States. As an SJHS ministry, St. Joseph Hospital has a rich tradition of service and compassionate care for the community. As a result, St. Joseph Hospital has become the largest and one of the busiest hospitals in Orange County. St. Joseph Hospital is a values-based Catholic healthcare provider with a tradition of and commitment to excellence, based on the vision of the Sisters of St. Joseph of Orange. The hospital’s strong belief in the intrinsic dignity of each person commits it to be a just employer to its 3,800 employees; to provide healthcare for the whole person, body, mind and spirit; and to collaborate with the 1,000-member medical staff and other healthcare providers to increase access to quality health care.
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.
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