July 13, 2019 – Colliers International has negotiated the lease of a 27,000-square-foot block of medical office space in the Saddleback Medical Building located on the campus of Saddleback Memorial Medical Center (SMMC) to Harvard Eye Associates, a provider of medical and surgical eye care for more than 40 years. Terms of the lease were not disclosed.
“This space at SMMC represented the largest block of existing and contiguous medical office space available in Orange County,” said Senior Vice President John Wadsworth, who, along with Vice President Aaron Phillips, represented the landlord, Greenlaw Partners, in the transaction. “This was an attractive opportunity for a large user due to the desirable location within the SMMC campus and the extensive upgrades recently completed at the Saddleback Medical Building.”
According to Wadsworth, the building recently underwent major interior and exterior renovations that included extensive lobby upgrades, modernized HVAC, mechanical and electrical systems, new FLS/alarm and sprinkler systems, and updated landscaping.
Saddleback Medical is situated within the campus of SMMC, a 325-licensed bed hospital that accounts for 1,978 full-time employees. Saddleback Memorial was named one of “America’s 50 Best Hospitals” in 2017, according to Healthgrades, a company that provides information on more than three million U.S. healthcare providers.
“The balanced mix of healthcare specialties within the SMMC campus provides a built-in referral source for tenants like Harvard Eye Associates,” Wadsworth added.
Harvard Eye Associates provides patients with advanced treatments and procedures in eyecare including LASIK, cataract care, specialty eye care and eye exams. Harvard Eye Associates also conducts research on new lens implants, surgical devices and medications before they are available to the general medical community. Harvard Eye Associates was represented by Matt Wiley from Savills Studley
Saddleback Medical is located at 23961 Calle de La Magdelena, adjacent to Laguna Woods Village, an active lifestyle community for people 55 years and up. The 136,000-square foot, five-story building offers an on-site pharmacy, multiple lab services and on-site property management. A dedicated parking structure is located directly behind the building.
Operating at SMMC, MemorialCare is a non-profit health system offering a comprehensive mix of specialties in prevention, diagnosis and treatment of cancer, heart disease, stroke, pulmonary disease, orthopedics and diabetes, emergency medicine, breast health, and surgery including robotic-assisted procedures, advanced imaging, women’s health and geriatric care. MemorialCare consists of six hospitals and numerous outpatient health centers and imaging centers throughout Orange County and Los Angeles County.
According to Phillips, the population within five miles surrounding SMMC is 292,977 people with an average annual income of $108,844.