FOR IMMEDIATE RELEASE
656 S. San Vicente Blvd. will be first medical office building built in area in nearly twenty years
LOS ANGELES – November 19, 2019 – Stockdale Capital Partners (“Stockdale”), a Los Angeles-based real estate investment manager, unveiled plans for a new 145,000 square foot, Class A medical building on Los Angeles’ Westside, adjacent to the City of Beverly Hills at the intersection of San Vicente and Wilshire Boulevards. Located at 656 S. San Vicente Blvd., the project will be the first major outpatient medical office building built in the area in nearly twenty years and will help meet pent up demand by healthcare systems and physicians in an area with an incredibly very low vacancy rate.
In addition to owning the property, Stockdale Capital Partners will play a direct role in the day-to-day operations of the new 656 S. San Vicente Blvd. development. Part of Stockdale Capital Partner’s guiding philosophy is to maintain a strict focus on controlling property management in order to provide its tenants with the best possible facilities for its employees and clients.
“This leading medical office project will fill a pivotal role in major health system’s abilities to service their patient base in a more convenient, accessible setting in West L.A.” said Stockdale VP of Asset Management, Andrew Saba. “Our focus is on a best-in-class design, specifically concentrated on a patient experience that will best service the local community.”
The medical office space at 656 S. San Vicente Blvd. will allow physicians to conduct numerous outpatient procedures and consultations, performed in a modern, healing, sustainable environment. The property will feature enhanced infrastructure including power and mechanical systems that can accommodate higher-acuity services in an outpatient setting. Additionally, the development is close to major health care facilities, including Cedars-Sinai Medical Center, UCLA Medical Center and numerous other medical specialists’ offices in the area.
The project’s architectural firm, ZGF, designed the 656 S. San Vicente project to emphasize the vibrant corner of Wilshire and San Vicente Boulevards, with a curved shape that opens up at the ground level. ZGF worked closely with Stockdale Capital Partners to ensure the building provides tenants and visitors with a welcoming, accessible space. The 656 S. San Vicente project is designed with flexibility in mind so that it can accommodate a single large health care institution, or a wide range of physician groups and medical practices.
The project will also aim to be LEED gold-certified with environmentally friendly features. These features include landscaping on the terraces and a specially-treated glass envelope encasing the building that will increase power performance and reduce energy consumption.
Angie Weber, First Vice President with CBRE’s Healthcare Team said: “656 San Vicente Blvd. is an exciting medical office development project uniquely positioned at the intersection of Beverly Hills and the City of Los Angeles. This site will fill the void that currently exists for large blocks of contiguous space able to accommodate the ever-expanding healthcare occupiers in this market. We are incredibly honored and privileged to once again be partnering with Stockdale Capital on this exciting addition to their healthcare portfolio and the greater LA market.”
About Stockdale Capital Partners
Founded in 2010, Los Angeles-based Stockdale Capital Partners (“Stockdale”) is a vertically-integrated owner/operator platform focused on value-add and opportunistic transactions across the West and Southwest US. The firm has 5 offices and 75 employees and invests on behalf of several institutional joint ventures, as well as a discretionary commingled fund. The firm is an active acquiror and developer of hospital-anchored medical office with a dedicated asset management and property management infrastructure. Please visit our website at www.stockdalecapital.com.
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