Venture Corporation Announces Opening of Moorpark Professional Center in San Jose
Development Provides Privately Owned Medical/Dental Suites for Medical Professionals, Eliminating the Need for Landlords
SAN JOSE, Calif., May 10, 2017 /PRNewswire/ -- Venture Corporation, the nation's pioneer in commercial condominiums, has announced the opening of Moorpark Professional Center at 2211 Moorpark Avenue in San Jose. The building includes 16 medical properties available for private ownership and ranging in size from 992 to 3,185 square feet. The building is constructed over subterranean parking exclusively assigned to the building's medical professionals. It is located at the confluence of Interstate 880 and 280, directly across Moorpark Avenue from Santa Clara Valley Medical Center and a short drive to numerous hospitals and medical centers.
The medical suites at Moorpark Professional Center are available for purchase by medical professionals who want the benefits of ownership — equity build-up every month, growth in value, tax write-offs and no more annual rent increases. Unlike other real estate acquisitions, the medical suites in this building are available with 100% financing in place; no down payment is required.
"Our mission is to give physicians and dentists the opportunity to capture the financial advantages of ownership and say farewell to their landlords," said Robert Eves, Venture Corporation's president. "The monthly cost of ownership is equal to or less than the cost of renting the same medical suite. Why hand all the profits to the landlord?"
One of the unusual features of Moorpark Professional Center is that it is equipped with a mahogany Board Room with a large-screen TV and internet access. A doctor can take his or her patient into the Board Room for a private consultation and review of medical conditions via Internet on the big screen. Rick Bell, head of sales at the project, reported: "Physicians love to take a mid-day sandwich break in the Board Room and catch up on the world news. Some of the doctors plan end-of-the-day gatherings with building friends to share a glass of wine or celebrate birthdays. The Board Room is equipped with temperature-controlled wine coolers with private bottle slots for each suite owner's collection."
Venture Corporation's commercial condominium properties have been built throughout much of California, with many more in Oregon, Washington and Nevada. "Some of our centers have been purely medical/dental buildings," reported Venture's president, Eves, "and they were quickly purchased by medical professionals who rarely move, wanted to avoid annual rent increases, and were eager to receive the equity growth that would have gone to their landlords. That explains why medical office buildings held their values far better than other investments during the Great Recession."
San Jose is the best market in the entire nation for medical office buildings, according to John Smelter, First Vice President in charge of medical office buildings at international brokerage Marcus & Millichap. Smelter recently reported that San Jose, California, has the highest medical office building occupancy in the entire nation at 97.5%. No other real estate investment group can match this performance.
Some of the suites at Moorpark Professional Center are leased and are being offered to private investors. Sales chief Rick Bell reported that several large suites have nearly four years remaining on their leases and long-term extension options at market rates. Rick Bell said, "These are ideal investments for smaller investors. The tenants don't move and the property owner's association handles all management issues. The properties are headache-free, and the returns are good and increase every year."
Moorpark Professional Center is expected to sell out by year end, according to Venture's development team.
For more information, call Rick Bell at (408) 829-4853, Robert Eves at (415) 464-2000 or visit the building's website at www.MoorparkPC.com. High-resolution photos available.
CONTACT: Fenzi Media Group
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SOURCE Venture Corporation
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