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4850 Union Avenue

Updated Oct 15, 2026

LGTC Group Acquires San Jose Medical Office Building For $9M
SOLDMedical Office

LGTC Group Acquires San Jose Medical Office Building For $9M

4850 Union Avenue

$9,000,000

$523/SF

Building Size

17,200 SF

Asset Type

Medical Office

Closing

Aug 7, 2023

About this deal

AI

The LGTC Group, a mental health firm, has acquired a medical office building in San Jose. The transaction, valued at $9 million, signifies the continuous expansion efforts of medical companies. The property, located at 4850 Union Avenue, spans across 17,200 square feet, with a price per square foot of $523. This outpatient center for mental health treatment highlights the demand for medical office spaces despite economic uncertainties.

Summary of transaction details

The LGTC Group's acquisition of the medical office building was facilitated by the brokers involved in the deal. Erik Hallgrimsom and Clark Steele from Cushman & Wakefield, along with Geri Wong from Newmark, represented the buyer and supported the transaction. The lender for this transaction was JPMorgan Chase. This purchase illustrates the growing demand for medical office spaces and reflects the focus on mental health treatment services.

On the Map

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$9,000,000

$523/SF

Medical Office

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Players

Erik Hallgrimson

Cushman & Wakefield

Broker

$42M

vol

3 deals

Broker
LGTC Group
LGTC GroupBuyer
J.P. Morgan Chase
J.P. Morgan ChaseLender
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San Jose Medical Office Market Snapshot

Boundary boundary · Medical Office · Sale transactions

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Deal FAQ

About $523 per square foot on a published $9M for 17,200 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.76%

Cash-on-Cash

-0.50%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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