Robhana Group and Inception Property Group are developing a new 60,000 square foot medical office building and supporting parking structure in the Pico-Union area of Los Angeles. (Rendering courtesy of Inception Property Group)
Los Angeles, California –February 16, 2017 – Commercial real estate investment firm Robhana Group, and development firm Inception Property Group, held a groundbreaking ceremony for a new, state-of-the-art, 60,000 square foot outpatient medical office building and supporting parking structure at Washington Blvd. and Hoover St. at the I-110/I-10 freeway intersection, in the Pico-Union area of Los Angeles. Also participating in the groundbreaking ceremony was HealthCare Paretners, a DaVita Medical Group, a publicly traded (Fortune® 500) medical provider, which has leased the entirety of the new medical office building for primary and urgent care services. This project marks the first of several phases of healthcare investment and development in the area, establishing the Pico-Union neighborhood as the new healthcare hub of the Downtown West Area.
The first phase of development, Downtown West Medical, located at 1120 W. Washington Blvd. (between Hoover St. & Union Ave.) in the City of Los Angeles, is the first phase of development spearheaded by Los Angeles based real estate investment firm Robhana Group (Property Owner), and Inception Property Group (Developer).
“Our project having been profiled in the October 16th 2015 edition of The Wall Street Journal generated national recognition and interest. Our in-house leasing efforts resulted in multiple proactive offers from regional and national healthcare providers,” said Robert Hanasab (Principal) of Robhana Group. “After careful consideration, HealthCare Partners was chosen as the project tenant and we designed the building as their flagship location in Southern California.” Robhana’s Robin Hanasab (Principal) adds, “Downtown West Medical allows HealthCare Partners the opportunity to expand medical services to an underserved area of Los Angeles and to continue providing quality accessible healthcare to the greater Downtown area.”
The medical office building and freestanding parking structure is scheduled for completion by the Spring of 2018. The Project was designed by world-renowned architects Ware Malcomb (site and medical office building) and Parking Design Solution (parking structure design), and is being constructed by Oltmans Construction Company, a prominent Southern California general contractor. The project will serve as a benefit to the local community as many new jobs and substantial new investment capital will be introduced into the neighborhood.
Robhana Group’s next phase of development, dubbed City West Medical, located at 1127 W. Washington Blvd. (directly across from the new Downtown West facility), will be the home of a new healthcare related project of approximately 48,000 square feet in size with subterranean parking. “We are in the early stages of schematic design on this project,” says Inception Property Group’s Peter Becronis, “and will begin conversations with interested healthcare providers to finalize the scope of construction.” Inception Property Group’s Adam Matar says, “The presence of HealthCare Partners and the primary care services they offer to this community are rare and present opportunities for specialty care providers and other types of healthcare related services to be offered to the greater Downtown area.”
Robhana Group, Inc. is a privately held real estate investment firm that acquires, finances, develops and manages commercial real estate, including office buildings, retail centers, multifamily projects, industrial buildings and mixed-use properties throughout the Western United States, led by Robert Hanasab and Robin Hanasab. Key leadership also includes Director of Leasing Chris Esparza, Director of Development Alan Kabaker, Director of Design and Construction Dan Stein, and Director of Debt & Equity Edmund Tefft.
Inception Property Group, led by partners and industry veterans Peter Becronis and Adam Matar, is a real estate development firm with offices in Los Angeles and Portland, Oregon. Inception Property Group develops healthcare facilities, affordable housing and senior living solutions for underserved communities, and also partners with healthcare and other corporate sectors to action their growth plans via ground up development and via repurposing of existing buildings.
For more information, contact:
Peter Becronis
Inception Property Group
617 South Olive Street, Suite 711
Los Angeles, Calif. 90014
peter.becronis@inceptionproperty.com
626.379.3705
Chris Esparza
Robhana Group, Inc.
606 S. Olive Street, Suite 600
Los Angeles, Calif. 90014
chris@robhana.com
213.683.8000
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