For Immediate Release
Mental health center, LGTC Group, acquires property in West Valley area
SAN JOSE, Calif. – August 16, 2023 – Cushman & Wakefield announced the firm has advised the sale of a freestanding 17,200-square-foot medical office building located in San Jose, California. Located at 4850 Union Avenue in the region’s West Valley community, the two-story property was acquired by LGTC Group, an outpatient mental health center, for $9 million.
Cushman & Wakefield’s Erik Hallgrimson and Clark Steele represented the seller, 4850 Union Avenue, LLC, in the transaction.
“Given its population and demographics, we continue to see demand from both investors and owner/occupiers seeking small- to mid-size medical office buildings to purchase in Silicon Valley. Building acquisition opportunities below 20,000 square feet are very difficult to find, which made 4850 Union Ave a unique and attractive option. The property also offers a quality medical environment in an easily accessible location,” said Vice Chair Erik Hallgrimson.
LGTC plans to occupy the entire building for its new clinic. The firm also operates four other regional clinics in central San Jose, Campbell, Sunnyvale and Burlingame, plus one residential facility in Willow Glen, per its web site.
4850 Union Avenue is conveniently located just off Highway 85, near the junction of Highway 17. The property is also a few blocks from Good Samaritan Hospital. The building is elevator served and features an outdoor patio and ample parking, covered and non-covered.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in approximately 400 offices and 60 countries. In 2022, the firm reported revenue of $10.1 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), Environmental, Social and Governance (ESG) and more. For additional information, visit www.cushmanwakefield.com.
Media Contact:
Joshua Deale
Cushman & Wakefield
Communications Manager, West Region
+1 415 677 0423
joshua.deale@cushwake.com
www.cushmanwakefield.com
This email has been sent to you by Joshua Deale/CushWake PR joshua.deale@cushwake.com.
Global Headquarters: Cushman & Wakefield | 225 W. Wacker Drive, Suite 3000 | Chicago, IL 60606 | USA
© 2023 Cushman & Wakefield. All rights reserved. The information contained within this communication is gathered from multiple sources believed to be reliable. The information may contain errors or omissions and is presented without any warranty or representations as to its accuracy. This e-mail may be considered advertising under federal law
The information contained in this email (including any attachments) is confidential, may be subject to legal or other professional privilege and contain copyright material,
and is intended for use by the named recipient(s) only.
Access to or use of this email or its attachments by anyone else is strictly prohibited and may be unlawful. If you are not the intended recipient(s), you may not use, disclose,
copy or distribute this email or its attachments (or any part thereof), nor take or omit to take any action in reliance on it. If you have received this email in error, please notify
the sender immediately by telephone or email and delete it, and all copies thereof, including all attachments, from your system. Any confidentiality or privilege is not waived
or lost because this email has been sent to you by mistake.
Although we have taken reasonable precautions to reduce the risk of transmitting software viruses, we accept no liability for any loss or damage caused by this email or its
attachments due to viruses, interference, interception, corruption or unapproved access.
For information on how your personal information is processed, including information on how to
exercise state or country specific Privacy Rights please view our privacy notice here:
https://www.cushmanwakefield.com/en/privacy-and-cookies
The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE
