San Diego-based real estate developer PMB recently announced that it had reached a major milestone at its newest construction project in San Jose, Calif. In partnership with Santa Clara Valley Healthcare (SCVH), PMB celebrated the topping out of the medical office building that will serve as the future Valley Health Center San Jose (VHC San Jose) location.
Situated near VTA’s Bascom Station, VHC San Jose intends to provide residents from across the county with seamless accessibility to a wide range of health care services. Rising 10 stories at the Bascom Station light rail stop along the Southwest Expressway, the property is within walking distance of more than 11,000 households and within a 10-minute drive for more than 90,000 people.
Aiming to earn LEED Silver certification upon its expected completion in 2025, the 230,000-square-foot building incorporates premium San Jose medical office space in line with the San Jose Urban Village strategy, which seeks to create complete neighborhoods where people’s daily needs — including medical care — can be met in close proximity to where they live.
“This milestone underscores the project’s progress and success,” said Ben Rosenfeld, senior vice president of development at PMB. “Achieving this requires a significant amount of hard work from all of the team, and it is a great source of pride for us all, especially considering the amount of rain we faced getting out of the ground.”
PMB and Chicago-based Harrison Street Real Estate Capital (Harrison Street) acquired the site in an all-cash deal in June 2022. The 2.4-acre segment of a triangle-shaped, seven-acre property is at the corner of South Bascom Avenue and Southwest Expressway, where the Bascom Station mixed-use project is being developed. The joint venture acquisition included the office component of Bascom Station, as well as a 590-unit residential master plan. Construction on both is well underway.
Working to meet the health care needs of the growing Santa Clara County population of nearly 2 million residents, this development marks the 10th local Valley Health Center. It will provide compassionate, accessible health care through 16 departments, including: adult medicine; obstetric/gynecological subspecialties; adult urgent care; behavioral health; dental; diagnostic imaging; facility support services; maternal and fetal medicine; patient support services; pediatric primary care; pediatric subspecialties; pediatric urgent care; pharmacy; a specimen collection lab; and administration.
The development team includes architects WRNS Studio and Boulder Associates; general contractor, South Bay Construction; equity partner, Harrison Street; and lead bank, Capital One.
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