Dr. Greg Tchejeyan

Orthopedic and sports medicine specialist Dr. Greg Tchejeyan purchased the 250 Lombard St. property in Thousand Oaks for $1.6 million, Westcord Commercial Real Estate announced Oct. 20.

The 4,800-square-foot office space was previously owned by the construction firm Wesley Thomas. Tchejeyan will relocate his practice from Los Robles Medical Center and redevelop the space into a medical clinic. The sale amounted to $335 per square foot.

“This will provide an alternative for patients needing to use the emergency room for minor musculoskeletal injuries and aliments, thereby avoiding long waits and costly ER expenses while providing accurate and timely diagnoses by specialists,” Tchejeyan said in a news release.

It will provide the opportunity to expand services and extend office hours, he added.

There have been a flurry of medical providers that have recently settled along Thousand Oaks Boulevard. The boulevard’s specific plan has paved the way for health care providers like Kaiser Permanente and UCLA Medical Group by easing parking requirements, among other incentives.

The Thousand Oaks Boulevard Specific Plan, which covers the 3-mile stretch from Moorpark Road to Duesenberg Drive, incorporated a voluntary tax for property owners based on the value of their land. That tax amounts to about $330 a year on average and pays for business renovations and independent studies on traffic and other impacts related to development.

The plan, enacted in 2011, also allowed retail developers to build right up to the sidewalk and allocated a swath of new housing units to the area. The hope was to create a vibrant, walkable space and, thus far, the plan has been a catalyst for redevelopment and attracted businesses to the region.

Wesley Thomas plans to move their headquarters to a larger location in the Conejo Valley, Westcord said.

• Contact Alex Kacik at akacik@pacbiztimes.com.