PMB, in partnership with Providence St. Joseph Hospital, has topped out Helen Caloggero Women’s & Family Center in Orange, Calif. Harrison Street is the capital partner for this project, while Siemens and Capital One provided the financing.
PMB broke ground on the 137,000-square-foot medical office building in 2021. The development team includes Boulder Associates as project architect and Snyder Langston as general contractor. Completion is expected in the fourth quarter of 2023.
The four-story medical facility will house a mother and baby assessment center, maternal diabetes and wellness, pelvic health and rehabilitation, but also comprehensive imaging, urology, orthopedics and ophthalmology. Amenities will include conference and education rooms, a pharmacy, a retail Stork Shop and a Blue Bowl Superfoods outlet, as well as an underground parking garage. PBM Real Estate Services will serve as property manager, while PMB and Madison Marquette will oversee all leasing activity.
Located at 363 S. Main St. within the Providence St. Joseph Hospital campus, Helen Caloggero Women’s & Family Center is 1 mile from downtown Orange and 30 miles from Los Angeles. Other medical facilities and hospitals in the surrounding area include UCI Medical Center, Garden Grove Hospital and Medical Center and Orange County Global Medical Center.
Medical offices in Orange County
Helen Caloggero Women’s & Family Center will be a welcome addition to Orange County’s medical office space inventory. According to CommercialEdge data, the county’s supply adds up to some 13.5 million square feet, with more than 1.6 million square feet located in Orange.
The county has seen 19 medical office buildings, totaling approximately 1.3 million square feet, change hands since the beginning of the year, the same data provider shows. In February, Lionstone Investment paid $125 million for Newport Lido Medical Center, a 146,510-square-foot property in Newport Beach, Calif.
More recently, CBRE Investment Management, in partnership with Healthcare Realty Trust, purchased a portfolio of four medical office buildings, totaling 282,683 square feet, in Mission Viejo, Calif. The assets sold for $134.8 million.