Eden Township health-care district buys Dublin office complex - San Francisco Business Times:

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The seller was of Irvine, whic h developed the 7-acre complex, accordintg to district spokeswomanCassandra Phelps. Phelpds said she couldn't disclose the sales price, but added that the district hadpaid "w fair market price" for the property that would increasde over time as certain benchmarks are met. Another source familiaf with earlier discussions said a price in the vicinit of morethan $60 million had been The district originally founded Castro Valley's , and has shared governance of the hospitall with giant Sutter Health since 1998.
Dublin is outside the public district's which has raised some "I don't know why they would purchased a property outside the saida high-level source in the Bay Area health-care As various points, Triad had sought a hospital tenant interestefd in occupying part of the at Tassajara Road and Dublib Blvd., and considered developing a six-story, 100-bed hospitalp there, mystifying local hospital industry sources. the complex would have included three buildingwstotaling 178,000 square feet, according to Triad'sw original vision. Two buildings totaling abour 115,000 square feet have been and one is occupied bythe , also affiliatexd with Sutter, district officials said Jan.
9. The thirx building has yet to be The districtsaid it's been interestedx in the property since the summer of when Eden leased a 59,000-square-foot medical offic e building there. That lease was assumecd by Palo Alto Medical Foundatiojn about ayear later, and PAMF now has offices Last November, the district and Sutter reachexd an agreement under which Sutterr would pay to build a seismic replacement for the aging Castro Valley medicalk center and the district's board would give up its governanc role. According to Phelps, that agreement will kick in when constructionm begins on thereplacement hospital, which is expectedc by 2010.
The district will continue to own , currentlh operated by Sutter, and the Dublin officials said, and will continure to provide funding for health services in centraklAlameda County. "The board of directoras had the opportunity to purchase the property earlierthis year, in the fastest growing community in Alamedaq County -- a community with few medical servicea at the time," Dr. Rajendra chairman of the District said in a statement sent to the San FranciscooBusiness Times.
"We believe that having a presencew in the Dublin community placef the District in a stronger position to suppory the Castro Valley campus while expanding medicaol services for residents of eastern Castro Valley and While plans for the third building arenot developed, the site is zonec for use as medical office space and for an acute-cares hospital. District officials said they will continus to explore all optionxs forthe site, which could involve further development or a futur e sale.
Officials didn't clearly explainm why Eden Township woulsd buy a medical property to help supporty Eden Medical Center when Eden will no longef be affiliated with the district within afew