Bascom Station
The Challenge
The County of Santa Clara faced a critical need to consolidate disparate business lines and expand service offerings near its main healthcare campus in San Jose. To serve the public effectively, they required a large-scale, accessible facility (230,000 SF) but sought to avoid the operational risks and capital intensity of self-managing a ground-up construction project.
Strategic Approach
HealthMed Realty executed a comprehensive development advisory and tenant representation strategy:
Site Selection: We identified a high-potential development site directly adjacent to a VTA light rail stop, ensuring maximum accessibility for staff and patients.
Developer Partnership: We selected a prominent third-party healthcare developer to handle the entitlement and construction, shifting risk away from the County.
Deal Structure: We negotiated a build-to-suit lease that delivered a custom, ground-up facility while allowing the County to occupy the property as a tenant rather than an owner-developer.
Value Delivered
- Below-Market Economics: Negotiated lease terms significantly below market rates, securing long-term fiscal efficiency for the public health system.
- Turnkey Delivery: Managed the third-party delivery of the core, shell, and complex interior improvements.
- Community Impact: Delivered a landmark asset on the Bascom corridor that anchors the County’s service expansion.
Project Team
Team Members
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