Noriega Road & Calloway Drive, Bakersfield, CA 93312
Meridian Identifies and Purchases Large Vacant Parcel in Highly Desirable Northwest Market
Meridian purchased a 6.54-acre vacant parcel of land located at the southwest corner of Noriega Road and Calloway Drive in Bakersfield, California. At that time, this location was one of the fastest growing and most desirable markets of Bakersfield – located approximately three miles west of State Highway 99 and five miles north of the Mercy Southwest Hospital amid lots of major retailers and growing affluent residential areas. After extensive market research, Meridian quickly concluded that the market was active and firm in continuing residential growth, low office vacancy, high absorption, and projected annual demand for new medical and office space. Meridian developed a plan to design ten, single-story, high-quality professional/medical office buildings totaling over 62,000 square feet. Meridian’s strategy was to offer whole buildings ranging from 4,600 SF to 9,200 SF to users for sale or leased. Meridian completed the project in less than 12 months and the new, modern professional office complex is now one of the major medical/professional office hubs of the community in the northwest sector.