The Offering
CBRE’s U.S. Healthcare Capital Markets Group is pleased to exclusively offer the opportunity to acquire The Oregon Clinic Gateway Medical Office Building (the “Property”). The Property was constructed in 2006 with LEED Gold certification and totals 101,142 square feet of rentable square feet. The facility is 100% leased and predominantly occupied by The Oregon Clinic, a leading physician group that provides 34 different specialty services, and Providence St. Joseph Health (“PSJH”), a 50 hospital health system that was recently formed by the merging of Providence Health & Services and St. Joseph Health.
The Property was a build-to-suit for The Oregon Clinic (TOC), which has leased approximately 65.4% of the facility through 2028. PSJH leases 33.5% of the facility for its cardiology heart clinic, physical therapy and lab services with leases going through 2022 and 2026. PSJH currently maintains an ‘Aa3’ investment grade credit rating by Moody’s as of October 2016, and both Fitch Ratings and Standard & Poor’s assigned an ‘AA-’ investment grade credit rating to the health system’s latest bond offering in September 2016.
Investment Highlights
- 100% Leased
- Leading Multi-Specialty Physician Group
- Investment Grade Credit Health System
- Outpatient Surgery Center Expansion
- Excellent Parking Availability and Ratio
- Triple-Net (NNN) Leases
- Centralized Location for Patient Access
- High Growth Market
- Delivered Free and Clear of Existing Debt
Price | Best Offer |
Address | 1111 NE 99th Ave Portland, Oregon |
Building Size | 101,142 RSF |
Year Built | 2006 |
Average Remaining Lease Term | 9.71 Years |
Percentage Leased | 100% |
In-Place NOI | $2,920,479 |
Contact Information
CBRE U.S. Healthcare Capital Markets Group
Chris Bodnar
Executive Vice President
+1 303 628 1711
chris.bodnar@cbre.com
Lee Asher
Executive Vice President
+1 404 504 5965
lee.asher@cbre.com
Ryan Lindsley
Senior Director
+1 303 628 1745
ryan.lindsley@cbre.com
CBRE Oregon Medical Office Brokerage
Jan Bottcher
Oregon RE License 840100088
+1 503 221 4809
jan.bottcher@cbre.com
CBRE Debt & Structured Finance
Greg Greene
Senior Vice President
+1 214 979 5617
greg.greene@cbre.com
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