Pacific Medical Buildings completes the construction of 70,000 square foot, LEED-certified medical office building in Los Alamitos, Calif.
Pacific Medical Buildings (PMB) is pleased to announce the completion of construction on a three-story, 70,000 square foot medical office building (MOB) and adjacent six-level, 1,077-space parking structure located on the campus of Los Alamitos Medical Center (LAMC). The $37 million project, located at 3751 Katella Avenue, broke ground in August 2013 and was completed 14 months later in October 2014.
PMB served as the developer of the project and collaborated with architect, Boulder Associates, a leader and innovator in sustainable healthcare design, for the MOB. IDG Parkitects provided architectural services for the parking structure. Snyder Langston, one of Southern California’s largest and most respected builders, served as the project’s general contractor.
For nearly 50 years, LAMC has provided inpatient and outpatient care, as well as emergency services to the Los Alamitos community. Because of its growing patient base, it was in need of a new MOB to maintain its on-site independent physician base.
The MOB was constructed amidst the middle of an existing two-acre surface parking lot, which represented 50 percent of LAMC’s parking supply. The parking structure was added as part of the development in order to provide additional parking to the growing campus. PMB began construction of the MOB with only 43 percent of the property pre-leased and negotiated a physician ownership model and lease terms with the opportunity to invest 100 percent of the equity in the new building. The opportunity to invest in the $18 million MOB was a key driver of physician interest and every physician/tenant took advantage of the opportunity.
The MOB is LEED (Leadership in Energy and Environmental Design) certified. LEED certification is an internationally recognized verification that a facility meets the green building, design, construction, operation and maintenance standards developed by the U.S. Green Building Council. “The project was delivered on-budget and on-schedule in 14 months. We ultimately developed a very high-quality, LEED-certified building that will provide a great patient experience” says Mark Toothacre, President of PMB. “This building will help advance medical care for Los Alamitos and the surrounding communities. In addition, our building has created a very attractive investment opportunity for local physicians, thereby increasing their long-term commitment to providing healthcare for the community”.
The project was recently awarded as a winner of the 2014 HREI Insights Awards™ in the category of Best New Medical Office Building and Other Outpatient Facility (50,000- 99,999 square feet). The awards are sponsored and presented by Healthcare Real Estate Insights™ magazine, the first and only national magazine entirely devoted to healthcare real estate development, financing and investing. Each year finalists within nine categories are announced and one winner from each category is selected at the annual HREI award ceremony.
About Pacific Medical Buildings
Pacific Medical Buildings (PMB) is an integrated medical office building developer and a healthcare real estate partner for health systems, hospitals, medical groups, and universities. We specialize in developing, leasing, and managing medical office buildings, ambulatory care centers, clinics, academic medical facilities, and parking structures. For more than 40 years, PMB’s executives have led the industry in the development and management of medical care buildings, with 86 medical projects constructed to date. The firm currently owns and manages 52 facilities totaling more than 3.25 million square feet with more than 7,000 structured parking stalls, and has numerous other projects under development. The San Diego-based firm also has offices in Austin, Chicago, Las Vegas, Los Angeles, Nashville, Orange, Phoenix, Portland and Vancouver. For more information regarding PMB, please visit www.pacificmedicalbuildings.com.