SAN JOSE, CALIF. –– CBRE arranged the $19.5 million sale of 625 Lincoln Avenue in San Jose from The Sobrato Organization to the property’s tenant, El Camino Health.
Scott Prosser, Joe Moriarty, Jack DePuy, Mike Taquino, Kyle Kovac, and Alec Haley of CBRE represented the seller, The Sobrato Organization.
“The property benefits from its central San Jose location with its proximity to newly developed residential, renovated retail centers and public transit. With no near-term new construction, the shortage of medical office space in this area will continue to place upward pressure on rental rates and continued increase on medical office building values,” said Scott Prosser, Executive Vice President of CBRE.
El Camino Health uses the 35,272 sq. ft. medical office building for urgent and primary care and is one of 13 locations across Santa Clara County.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.