Sutter Health buys potential Livermore hospital site for $39.5M
San Francisco Business Times - by Chris Rauber
Sutter Health late last month acquired 45.3 acres of vacant land in Livermore for $39.5 million, spokesman Bill Gleeson confirmed Tuesday.
Although Sutter’s intentions for the property aren’t clear, the site -- north of I-580 and east of Collier Canyon Road -- could be used for a hospital, medical offices or an outpatient surgery facility, among other possible options.
Sacramento-based Sutter operates 26 hospitals in Northern California, including many of the Bay Area’s largest, such as California Pacific Medical Center in San Francisco, and Alta Bates Summit Medical Center, which has campuses in Berkeley and Oakland.
Livermore doesn’t have a major inpatient facility within its city limits; and Sutter’s nearest hospitals in Antioch and Castro Valley are a longish freeway journey from the city.
ValleyCare Health System, a Sutter competitor, does have an extensive outpatient and administrative facility in Livermore, which includes an urgent care center; occupational health, rehabilitation, laboratory, and skilled nursing services; imaging; outpatient surgery, medical offices and administrative offices. It also operates a major hospital about 10 miles down I-580 in Pleasanton.
Sutter bought the property, adjacent to I-580 near Isabel Avenue, from Shea Properties and KLA Tencor (NASDAQ: KLAC), according to Gleeson, who said the purchase price works out to about $20 per square foot.
“We haven’t made a final decision on the eventual use for the site but obviously our thinking is that it could be developed to provide health-care services for the growing Tri-Valley community,” he told the San Francisco Business Times on Nov. 18. “We don’t have a timetable for making a final decision.”
crauber@bizjournals.com / (415) 288-4946
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