Continental Medical Plaza
Continuing its successful track record of acquiring undervalued properties in premier locations, Continental East Development purchased this property in November 2009 as a +$7,000,000 non-performing construction loan from the Central Pacific Bank of Hawaii. CED management once again demonstrated its expert timing with the acquisition of this property, located directly adjacent to Rancho Springs Medical Center.
At the time CED purchased Continental Medical Plaza, Rancho Springs Medical Center was undergoing a $53,000,000 expansion. The asset securing the loan included two nearly completed medical office buildings located in Murrieta, CA.
CED successfully completed a foreclosure and launched plans to finish development of the medical buildings. The now completed Continental Medical Plaza features two state-of-the-art, Class A medical buildings. The 38,000 SF of medical complexes are located in the heart of the Murrieta Medical Community, which includes both the Rancho Springs Medical Center and Hancock Medical Corridor.
CED is proud to call Continental Medical Plaza the new home of Radnet, a national medical imaging firm and the largest owner and operator of fixed diagnostic imaging equipment in the United States. As the largest provider of breast imaging services in Southwest Riverside County, Radnet and their affiliate, Breastlink Medical Group, provide an incredibly important service to the City of Murrieta and surrounding communities.
Continental Medical Plaza is also home to Visiting Nurses of Southern California, a leading home health, palliative and hospice service provider. Continental Medical Plaza also serves as the headquarters of Continental East Development and USA Continental Regional Center. With development complete and Rancho Springs Medical Center’s $53,000,000 expansion finished, Continental Medical Plaza is yet another wonderful example of CED’s winning strategy.