JLL closes $10.75M sale of Portland-area medical office plaza
The transaction completes a 2-property portfolio sale that included Tigard Medical Plaza for a combined purchase price of $25.25M
SEATTLE, August 22, 2019 – JLL announced today that it has closed the $10.75 million sale of Wilsonville Medical Plaza, a 24,057-square-foot medical office building in the Portland-area community of Wilsonville, Oregon.
JLL marketed the property on behalf of the seller. A private investor in a 1031 exchange emerged through a highly competitive sale process and purchased the medical office property in an all-cash transaction.
Constructed in 2009, Wilsonville Medical Plaza serves as a strategic outpatient medical center for both Providence Health (Moody’s: Aa3) and Sports Medicine Oregon (SMO). The building is located on 2.25 acres at 29345 SW Town Center Loop approximately 15 miles south of downtown Portland in Wilsonville, an affluent community that is the fastest-growing suburb of Portland and the third fastest-growing city in Oregon. The property is strategically positioned for easy access and visibility from Interstate 5, the prominent north-south freeway that connects Portland to Salem. Within a mile of Wilsonville Medical Plaza, there are three well-regarded senior living communities, Brookdale Wilsonville, The Springs at Wilsonville and Portera at the Grove.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com