Santa Clara Valley Medical Center Leases 230,500 SF Medical Office Space In San Jose

The Santa Clara Valley Medical Center has leased over 200,000 square feet of medical office space in San Jose, defying a market slowdown in Silicon Valley. The property, located at 1410 South Bascom Hill and purchased for $26 million by PMB and Harrison Street, offers a positive development in the stagnant office market of the region.

Summary of Transaction Details:

• Property Type: Medical Office
• Transaction Amount: $26 million
• Square Footage: 230,500
• Address: 1410 South Bascom Hill, San Jose
• Market: San Jose

The landlord, PMB & Harrison Street, successfully acquired the property and facilitated the deal with Santa Clara Valley Medical Center. Paul Lorenz, representing Santa Clara Valley Medical Center, negotiated the lease agreement. This significant lease transaction demonstrates the resilience of the medical office sector in San Jose amidst the challenging market conditions.