Los Angeles-based Doheny Eye Institute acquired a new office building in Pasadena, Calif., that will serve as its headquarters, according to the Los Angeles Business Journal.
Here are five things to know:
1. The new office building in Pasadena is 123,203 square feet. The property is currently held by the real estate firm SteelWave, which purchased it in 2013 for $19.8 million.
2. Doheny Eye Institute will purchase the building for just under $50 million and plans to move in during the fourth quarter of 2018. The building is LEED Silver certified and will serve as the institute's new vision research center as well as include operating suites and clinical space.
3. With history that dates back to 1947, Doheny Eye Institute is a nonprofit organization affiliated with UCLA Stein Eye Institute. The group includes clinicians and scientists who treat macular degeneration, glaucoma and other eye issues.
4. Doheny will develop plans for interior design as soon as possible to create a contemporary and welcoming atmosphere.
5. SriniVas R. Sadda, MD, serves as president and chief scientific officer of Doheny Eye Institute and will lead the move to the new facility. "We look forward to calling Pasadena home as we continue to further Doheny Eye Institute's vision — to have the greatest impact on human eyesight by leading our field with groundbreaking research, superior education programs and the best eye care in the world," he said.