Borelli Investment Company has announced that, after considerable behind-the-scenes work with the City of San Jose’s planning department and other city officials, both Junction Office Center in San Jose’s Golden Triangle and AirTech Office Condominiums in the highly desirable airport area have been approved for medical and dental uses.
This means that MD’s in a variety of specialties, as well as dentists, chiropractors, acupuncture specialists, and other health professionals can take advantage of the benefits of business property ownership at either of these office condominium complexes.
“We have suites starting from as small as 750 square feet,” said Ralph Borelli, CEO of Borelli Investment Company. “This puts ownership within the reach of practices of almost any size. Medical professionals can purchase the real estate through their practice or as an individual—whatever they and their CPA deem is most favorable for their individual financial situation.”
Two Outstanding San Jose Locations
Borelli’s latest office condominium complex is Junction Office Center—a two-building, 77,404 square foot complex at 2051 – 2055 Junction Avenue in San Jose. The buildings are located in the heart of the famous Golden Triangle, formed by the intersections of I-880, Hwy 101, and Hwy 237. This prime location puts a practice in the middle of a busy office and industrial area, with high-traffic retailers such as Fry’s Electronics close by. In addition, the office staff will enjoy easy commutes via the major transportation arteries or light rail, a few blocks away.
Junction Office Center offers 52 office condos in total, with nearly 60 percent of Phase I already sold or in escrow. The two-story buildings have benefited from $10 million in renovations and upgrades, including new elevators, all new interiors, new windows, with new offices & doorways, large high tech-equipped common conference room, the latest heating and air conditioning systems, large multi-stalled restrooms with showers, extensive landscaping improvements, ADA accommodations, a new roof, and high-speed Internet service. Patients will enter through an impressive formal lobby with polished granite floors and high ceilings. Ample parking is right at the door.
AirTech Office Condominiums is a two-story garden office complex, with 42 condo units and nearly 56,000 square feet of space total. Fully 90 percent of the offices are sold or in escrow, so buyers need to hurry. More than $3 million in improvements made by Borelli Investment Company include a high-speed T1 line for Internet service, large high tech-equipped common conference room, individual temperature-adjusted suites, a high-speed elevator, large multi-stalled restrooms, a full seismic upgrade, new roof, and attractive landscaping improvements.
Both office condominium complexes provide the built-in backbone infrastructure required for customized medical and dental offices.
“As sophisticated as most medical professionals are, many don’t realize that the significant tax advantages of business ownership are so readily available,” Borelli commented. “These advantages include a special IRC Section 179 write-off of up to $105,000 in the first year, accelerated depreciation from cost segregation, and other deductions for taxes and interest. Plus, SBA financing requires as little as ten percent down.”
Medical Uses Create Healthy Market
There has been a healthy amount of interest in medical usage of office condominiums for some time, so Borelli expects the market to come to life quickly.
“Office condominiums represent an ideal investment for smaller medical practices,” noted Borelli. “Legitimate deductions can be applied to reduce taxes on high earnings, and at the same time, a practice can control its long-term occupancy costs while capitalizing on potential value increases. It really makes so much sense that a broad range of individuals and practices can benefit.”
For more information, contact Larry Bengiveno for Junction, or Buddy Parsons for AirTech, or call (408) 453-4700. Or interested parties can visit the property development web sites by clicking on the logos at the bottom of this page.