Meridian, a real estate investment firm, has recently acquired a 94,569-square-foot medical building in Tucson. The building is located at 4888 N. Stone Avenue on a 9.27-acre parcel and was previously vacant for the past 15 years.
The property will now be occupied by El Rio Health, an affordable healthcare provider that has been serving the Tucson community for over five decades. Meridian plans to invest significant capital into renovating and upgrading the building immediately to transform it into a state-of-the-art health center.
The former Tucson Heart Hospital will undergo extensive renovations and custom tenant improvements to meet El Rio Health’s specific service line needs. Construction is set to begin later this month with an estimated completion date of early 2026.
Rick Kleiner from Cushman & Wakefield | PICOR represented Meridian in their acquisition of the property while also representing El Rio Health on their lease agreement. Vince Femiano and Kate Morris from Transwestern acted as representatives for Tenet Health, who sold the property through one of its affiliates.
