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

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

• Property Type: Medical Office
• Transaction Amount: $9,000,000
• Address: 4850 Union Avenue
• Market: San Jose
• Buyer: LGTC Group
• Brokers: Erik Hallgrimsom - Cushman & Wakefield; Clark Steele - Cushman & Wakefield; Geri Wong - Newmark
• Lender: JPMorgan Chase
• Square Footage: 17,200 sq ft
• Price Per Square Foot: $523

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.