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University Medical Center

University Medical Center image via Google Earth

published on October 10, 2023 - 12:40 PM
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A Fresno building investor is adding another property to his portfolio as the sole bidder Tuesday for the former University Medical Center campus.

The Fresno County Board of Supervisors unsealed Sevak Khatchadourian’s bid during its regular meeting. With a nonrefundable $50,000 cashier’s check and a $6 million offer, Khatchadourian’s bid — the only one received for the property — met the minimum sale price for the 30-acre site at Kings Canyon Road and Cedar Avenue.

The property includes 20 buildings totaling 620,000 square feet, including the former University Medical Center hospital that closed in 2007.

It would be the latest Fresno property purchased by Khatchadourian, who took Downtown Fresno’s Pacific Southwest Building from 5% to 95% occupancy since buying it in 2011.

Earlier this year Khatchadourian purchased the shuttered Fresno Radisson building in Downtown Fresno.

Reached by text message Tuesday, Khatchadourian called his latest acquisition in Southeast Fresno “a hidden gem with a lot of potential.”

“I have some great ideas for it,” Khatchadourian wrote. “I will be working with my consultants closely in the next few months to achieve my goals.”

It’s been a long road for the property, which has been subject to at least two deals that later fell through in the last several years.


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