SAN RAMON, CA—IntegraMed America has leased more than 17,000 sq. ft. at Park Place Medical Building here.
The owner of the 48,000-sq.-ft. 100 Park Place complex, consisting of two office buildings built in 1984, recently renovated the property for use by medical practices. Sonny O’Drobinak, a vice president at Transwestern who represented the landlord, says in a statement that the concentration of medical practices in former office buildings in suburban areas is a distinct and growing trend in both the commercial real estate and healthcare industries.
"This is very good timing on the part of IntegraMed," says O'Drobinak. "The vacancy rate for Class A office space in San Ramon has dropped remarkably over the past year or so, from double digits to roughly seven percent, and existing space in the market keeps growing tighter.”
Rick Steffens and Knute Bucklew with Cornish & Carey Commercial Newmark Knight Frank represented IntegraMed in the lease transaction.