An agreement has been reached to build a new four-story 72,000 square-foot medical office building on Santa Anita Park property across westbound Huntington Drive from Methodist Hospital. A media announcement said the new building is scheduled to break ground in early 2013, with space available for tenants as early as 2014.
The deal was announced by The Hale Corporation through Santa Anita Park, the latter of which is owned by The Stronach Group. The project is a joint venture between The Stronach Group and The Hale Corp under CEO and veteran local real estate developer, Dick Hale. “I am very pleased and quite enthusiastic to announce this project with my new partner,” said Hale in a statement in the media announcement. “With the recent multi-million dollar expansion of our local hospital, the need for additional facilities for doctors and other health care professionals is clear and the timing is right. Methodist Hospital has recently been accredited as a stroke center and has attracted many notable physicians to its staff.
“Dan Ausman, President and CEO of Methodist stated the hospital is excited to see the addition of high quality medical space adjacent to the hospital campus. This addition will enable the hospital to continue attracting physicians to the campus enabling continued growth of the hospital,” added Hale.
Early leasing has the building at 35 percent occupied without going to the marketplace. Mr. Hale stated that he offers physician tenants opportunity within the building.
In 2010 The Hale Corporation developed a building on its Santa Clara and Fifth Avenue site to bring Children’s Hospital Los Angeles to the Arcadia community. Information on the project can be obtained by calling (626) 358-4523.
— By Scott Hettrick