LOCAL DEVELOPMENT FIRM, THE HALE CORPORATION, ANNOUNCES STATE OF THE ART MEDICAL OFFICE BUILDING TO BE BUILT IN CONJUNCTION WITH THE STRONACH GROUP

Ground Breaking in 2013 to Create Several Hundred Construction Jobs

ARCADIA, (Aug. 27, 2012)—Today, veteran local real estate developer, Dick Hale announced the creation of a new four story 72,000 square foot, state of the art medical office building adjacent to the recently expanded Methodist Hospital in Arcadia. The project is a joint venture between The Hale’s and The Stronach Group, owner of Santa Anita Race Track.

“I am very pleased, and quite enthusiastic to announce this project with my new partner,” said Dick Hale, CEO of the Hale Corporation. “With the recent multi-million dollar expansion of our local hospital, the need for additional facilities for doctors and other health care professionals is clear and the timing is right. Methodist Hospital has recently been accredited as a stroke center and has attracted many notable physicians to its staff.

“Dan Ausman, President and CEO of Methodist stated the hospital is excited to see the addition of high quality medical space adjacent to the hospital campus. This addition will enable the hospital to continue attracting physicians to the campus enabling continued growth of the hospital,” added Hale.

This new medical office building is scheduled to break ground in early 2013, with space available for tenants as early as 2014. The project is expected to create the need for several hundred well-paying construction jobs for the area as well as the permanent positions the building will generate.

Early leasing has the building at 35 percent occupied without going to the marketplace. Mr. Hale stated that he offers physician tenants opportunity within the building.

The Hale Corporation has significant history and experience in this field, with many medical buildings in its portfolio. In 2010 the organization developed a building on its Santa Clara and Fifth Avenue site to bring Children’s Hospital Los Angeles to the Arcadia community. Information on the project can be obtained by calling (626) 358-4523.

Press Release, as received from THE HALE CORPORATION (626) 358-4523

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