Acquired in July with 40% Vacancy, The Ridge at Town Center West Attracts Two New Tenants

EL DORADO HILLS, Calif. - Jan. 21, 2023 - PRLog -- Marshall Medical Center and PATRA have agreed to take 75% of the space vacated by Blue Shield following the insurer's sale-leaseback of The Ridge at Town Center West to ProEquity Asset Management and Miami-based Solaris Capital in July.

Marshall Medical Center, a nonprofit regional community healthcare provider, is under contract to purchase the building located at 4201 Town Center Boulevard. The building will house family practice, orthopedics, cardiology, laboratory and physical therapy services, among others. Earlier this year, Marshall was named one of 148 top hospitals in the country for patient safety and quality care by the digital platform Money (https://money.com/). Marshall was represented by Tom Conwell of Newmark.

El Dorado Hills-based PATRA will occupy one full floor of the otherwise currently vacant building. The leases bring total occupancy at the four building, 246,000 s.f. campus to 90%. Blue Shield continues to occupy two of the buildings. PATRA was represented by Tom Walcott and Jason Rutherford of Colliers International. ProEquity Asset Management was represented by Michael Stassi and Daniel Baker of JLL in lease negotiations with PATRA.

Announcing the transactions, Michael Turner, CEO of ProEquity Asset Management said: "We strongly believed in the quality and location of this campus and our ability to add value when we acquired The Ridge at Town Center West from Blue Shield in July. The phenomenal response we've received from tenants in just a few months validates that belief."

"We look forward to welcoming Marshall Medical Center and PATRA to the campus and anticipate leasing the remaining 25,000 s.f. in short order," he added.

"We are thrilled to be able to have such a prominent presence at The Ridge at Town Center West," said Siri Nelson, CEO, Marshall Medical Center. "This investment will allow Marshall to expand and to provide convenient care and access for our patients." Marshall expects to begin services in the new location in the summer of 2024.

Continued here: https://proequityam.com/press/the-ridge-at-town-center-west/