SEATTLE, WA – draft – Holliday Fenoglio Fowler, L.P. (HFF) announces that it has closed the $14.5 million sale of Tigard Medical Plaza, a 20,994-square-foot outpatient medical office building and ambulatory surgery center in the Portland-area community of Tigard, Oregon.
HFF marketed the property on behalf of the seller. A private investor in a 1031 exchange purchased the medical office property in an all cash transaction.
Completed in 2005, the fully leased asset serves as a strategic medical office and outpatient surgery center. Tigard Medical Plaza is located on 1.74 acres approximately 10 miles south of downtown Portland. The property is strategically positioned for easy access and visibility from Interstate 5, the primary north south freeway that connects Portland with Salem, and which has traffic counts exceeding 164,000 vehicles per day. Additionally, Tigard Medical Plaza benefits from its proximity to nearby medical facilities, including Providence Laboratory and Providence Bridgeport Health Center directly across the street as well as Legacy Hospital just two miles south.
The HFF investment advisory team representing the seller comprises members of HFF’s national medical office capital markets team, including managing director Evan Kovac, director Andrew Milne, senior associate Trent Jemmett and analyst Maria Poyer. Local market expertise was provided by HFF director Logan Greer. HFF managing director Casey Davidson and senior director John Chun provided debt advisory services on the transaction.
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
HFF Managing Director
HFF Director, Public Relations
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