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SAN JOSE — A big medical office building could sprout next to a San Jose train station now that a real estate alliance has bought a prime site where an office complex is already approved.

A venture of PMB, a development firm whose primary specialty is medical office and health care buildings; and Harrison Street Real Estate Capital, a major investment firm, has bought a portion of a triangle-shaped site in San Jose where a mixed-use project known as Bascom Station is being built.

Bascom Station is a residential and office development at the corner of South Bascom Avenue and Southwest Expressway that is poised to benefit from the directly adjacent light rail station.

San Diego-based PMB and Chicago-based Harrison Street, acting through an affiliate, paid $26.2 million for a parcel at 1410 S. Bascom Ave. in San Jose, documents filed on Aug. 11 with the Santa Clara County Recorder’s Office show.

The PMB and Harrison Street venture bought the site where the office building would rise through an all-cash deal, according to the county property records.

Bay West Development, whose affiliate sold the land for the office building to PMB and Harrison Street, crafted the plan for a transit-oriented development of homes and office space and steered the proposal through the city review process. Bay West declined to comment about the situation.

In 2018, the Bay West Development affiliate paid $37.3 million for the entire seven-acre site where the mixed-use project is being built next to the Bascom Station light rail stop.

The housing is being built on a 4.6-acre parcel and the offices would be developed on an adjacent 2.4-acre site. In years past, the site was the location of a shopworn retail property known as Dick’s Center, where a Zorba the Greek restaurant had operated. The old commercial buildings have been bulldozed.

Bascom Station will consist of 590 apartment units on a parcel at 1330 S. Bascom Ave. and an office building of approximately 200,000 square feet on the adjacent 2.4-acre lot at 1410 South Bascom.

A venture of Bay West Development and Forum Real Estate Group has begun building the residential units., bankrolled by a $284 million construction loan from AustralianSuper, one of Australia’s largest pension and retirement funds.

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A medical office is expected to be what PMB and Harrison Street develop at Bascom Station.

“PMB is a full-service healthcare real estate development company that works with health systems, hospitals, medical groups, specialty providers, academic medical centers and senior living providers,” PMB stated in a post on its site.

Founded in 1971, PMB states on its website that the company has set down deep and wide roots in the health care and medical sectors.

“We have been fortunate to partner with some of the top health systems, medical groups, capital sources, architects, contractors, operators and consultants” PMB stated on its website, “to develop exceptional healthcare real estate.”

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