Premier Medical Institute completed a $5 million rehabilitation in 2014
SAN DIEGO, Calif. — The Heritage Group, a San Diego-based commercial real estate management and investment advisory firm, has taken over the management of the Premier Medical Institute in Kearny Mesa.
The Premier Medical Institute, located at 7625 Mesa College Drive, was purchased in December 2012 by Dr. Scott P. Leary, a board certified neurosurgeon with a fellowship in complex spine surgery. The property then underwent a $5 million rehabilitation that concluded in 2014.
“This highly-visible asset represents a rare opportunity to create a state-of-the-art medical office building with direct proximity to acute care magnets, including Sharp Memorial Hospital and Rady Children’s Hospital,” said Dan McCarthy, senior director at The Heritage Group. “The thoughtful redevelopment of this site will yield a high-quality medical environment for small and medium-sized practices in a market where such opportunities are limited.”
The 34,000-square-foot property was previously occupied by The American Red Cross. It is located across the freeway from Sharp Memorial and Children’s hospitals, and is in close proximity to several Scripps hospitals. It consists of a three-story and single-story buildings.
The rehabilitation of the property, which was completed by BSD Builders, Inc., was substantially completed in September 2014. All non-structural walls, both interior and exterior, were removed from the three-story building. The property now features a new lobby, elevators, restrooms, interior common areas, HVAC systems, security systems, energy management systems and exterior walls and glass. The parking lot and grounds will also be updated.
Dr. Leary occupies a majority of the third floor and shares some space with Dr. Jean-Jacques Abitol of the California Spine Group. Imaging Health Care Specialists will relocate from the adjacent single-story building to the ground floor of the newly-renovated three-story building. Physiotherapy Associates will also be located on the ground floor. Several other prominent medical practices have expressed interest in the remaining space.
Dr. Leary’s clinical practice and research focuses on the comprehensive care of brain and spinal disorders, with special expertise in spinal disease such as spinal stenosis, degenerative disc disease, spinal trauma, scoliosis, failed spine surgery syndrome, spinal tumors, spinal disc herniation, and the evaluation of neck and back pain. He completed both neurosurgery residency training and a complex orthopedic spine fellowship, a distinct and unique combination in the San Diego medical community.
The Heritage Group is a full-service commercial real estate management and investment advisory firm offering solution-driven strategies for owners, occupiers and investors in commercial real estate. The team leases and manages approximately 2,000,000 square feet and has deployed investor capital in excess of $300 million of commercial real estate over its nine-year span. Heritage is headquartered in San Diego, California with offices in San Francisco and Los Angeles. For more information on the Heritage Group, visit www.theheritagegroup.com