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12677 Alcosta Boulevard

John Muir Health Expands Lease At Bishop Ranch Medical Campus With Sunset Development Company
LEASEDOffice

John Muir Health Expands Lease At Bishop Ranch Medical Campus With Sunset Development Company

12677 Alcosta Boulevard

Building Size

100,000 SF

Asset Type

Office

Closing

Mar 10, 2026

AI

The asset involved in this transaction is an office property located at 12677 Alcosta Boulevard in the San Ramon market. The space covers approximately 100,000 square feet and is owned by the Sunset Development Company.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Landlord: Sunset Development Company
  • Tenant: Michael S. Thomas - John Muir Health
  • Brokers: Trent Barmby & Kevin Mechelke - JLL

This lease arrangement reflects John Muir Health's expansion strategy as the organization nearly doubled its footprint to accommodate additional services and staffing. The new space is projected to open in late 2027, alongside a 10-year lease extension for the Pleasanton Outpatient Center, consolidating operations in the San Ramon area along the I-680 corridor.

Players

Kevin Mechelke

JLL

Broker

3 deals

Broker
SD
Sunset DevelopmentLandlord
Michael S. Thomas

Michael S. Thomas

John Muir Health

Tenant

1 deal

Tenant

San Ramon Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93