First Medical Lease Since the Start of Construction and Official Rebranding
LAGUNA HILLS, CA – May 3, 2011 – (RealEstateRama) — The Muller Company, a full service real estate company specializing in management, investment and development of commercial real estate in the western United States, announced today that the leasing team at the Taj Mahal Medical Center located in Laguna Hills, Calif. has signed its first medical lease since the start of construction and the official rebranding of the project in March, 2011.
Taj Mahal Medical Center’s new tenant, Sea View Pediatrics, represented by Jake Stickel and Brad Schmitt of CB Richard Ellis in Newport Beach, Calif. will occupy 6,700 sq. ft. for 10 years, beginning August 2011. Sea View Pediatrics, which specializes in health care for infants, children and adolescents, currently has four offices in Orange County, Calif. The Muller Company was represented by their former broker, Michael Anderson-Mitterling of Grubb and Ellis in Newport Beach, Calif. Recently, The Muller Company hired a new brokerage firm, Zuvich Corporate Advisors (ZCA), located in Irvine, Calif., which specializes in the marketing and leasing of medical buildings. ZCA’s Eric Tse and Mark Zuvich (www.zcares.com) are The Muller Company’s exclusive leasing agents for the Taj Mahal Medical Center.
Once Sea View Pediatrics moves onto the 2nd floor of the Taj Mahal Medical Center, 48% of the building’s tenants will be medical. “This new lease is a huge step in the right direction for the Taj Mahal Medical Center’s transformation,” said Brandon Muller, Leasing Manager at The Muller Company. “The Taj Mahal Medical Center is the perfect location for any medical practice as it is situated in the heart of Orange County, conveniently located next to Saddleback Hospital and Laguna Woods Village (formerly Leisure World). It also has numerous amenities including an onsite leasing and management team, which makes a brand new tenant’s transition seamless.”
Muller notes, “Because of our onsite team, on-the-spot tours are available for any type of medical practice interested in 700 sq. ft. to 5,600 sq. ft. in our state-of-the-art facility. We look forward to welcoming more new medical tenants to the Taj Mahal Medical Center in the near future.”
The Taj Mahal Medical Center, located at 23521 Paseo de Valencia in Laguna Hills, Calif., across the street from Saddleback Memorial Hospital, is a 78,853 sq. ft. four-story “mid-century modern” landmark building that is undergoing a $3 million transformation to convert the project to 100% medical over the next 2 years. Last month, The Muller Company rebranded the building as the Taj Mahal Medical Center, launched a new website (www.tajmahalmedicalcenter.com), and added a new modern glass canopy and building entrance. The next phase of construction, slated to begin in July 2011, will take place on the northern part of the property with changes such as a more convenient and user-friendly access to the medical center, updated landscape with water features, and the addition of full-sized parking spaces. The renovation is scheduled to be completed in late 2012.
About The Muller Company
The Muller Company has over 30 years of experience in developing, acquiring and managing a diverse portfolio of over 20 million square feet of office, industrial and retail real estate throughout the western United States, with nearly 11 million square feet currently under management in the California and Phoenix markets. Over the years, The Muller Company has partnered with institutional owners such as GE Capital Real Estate, Capmark, Rockwood Capital, BlackRock, ING Realty and Metlife. Empowered by an entrepreneurial spirit and guided by an owner’s perspective, The Muller Company excels at mining the long-term value from every asset that it manages by adding value, either through leasing, capital improvements, refinancing, operational audits and repositioning. For more information, contact Jamye Jack at 949-680-9777 or .