BURBANK, Calif., June 2008 – Pacific Medical Buildings (PMB), a San Diego-based healthcare real estate developer, has completed work on the Burbank Medical Plaza II, a new medical office building (MOB) on the campus of Providence Saint Joseph Medical Center.
The new facility in Burbank is the second phase of a three-phase development on the hospital’s campus. The five-story, 97,500 square foot MOB includes a 990-car parking structure, houses a 30,000 square foot primary care group. The $38 million project is located at 191 South Buena Vista Street.
In addition to the medical center and the parking structure, the campus development also includes a 69,000 square foot MOB which is owned by a PMB partnership, and The Roy and Patricia Disney Family Cancer Center which is a 57,000 square foot facility owned by the hospital.
PMB has also partnered with the Providence Health System on two other successful developments in California including the Burbank Medical Plaza I on this same campus, and the Santa Clarita Medical Plaza in Santa Clarita.
Along with PMB, approximately 25 percent of the tenant base invested close to $2 million in the ownership of the single-asset LLC.
“This project marks the third time we’ve partnered with Providence Health System,” 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 Burbank and the surrounding communities.”
Located just north of Los Angeles, Providence Saint Joseph Medical Center has 455 beds and is the San Fernando Valley’s largest hospital.
About Providence Saint Joseph Medical Center
Located just 12 miles northwest of downtown Los Angeles, Providence Saint Joseph Medical Center in Burbank was founded in 1943 by the Sisters of Providence. With 431 licensed patient beds, Providence Saint Joseph is the largest hospital serving the San Fernando and Santa Clarita Valleys and offers state-of-the-art technology and high quality, compassionate care in a variety of medical specialties. The medical center has an active medical staff of more than 650 renowned physicians and employs more than 2,300 staff – including 800 RNs – who share a commitment to provide quality care for all.
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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