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May 28, 2020
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Portland Area Medical Office Building Sells in $14.5 Mil Deal


Tigard Medical Plaza, a 21k sf outpatient medical office building and ambulatory surgery center in the Portland-area community of Tigard, sold for $14.5 mil ($690/sf). A private investor in a 1031 exchange purchased the medical office property in an all-cash transaction.

Photo: Bill Purcell
Photo: Bill Purcell
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, which is the primary north-south freeway that connects Portland with Salem and 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.

Evan Kovac, Andrew Milne, Trent Jemmett and Maria Poyer with HFF represented the seller in the transaction, along with local market expertise from HFF’s Logan Greer. HFF’s Casey Davidson and John Chun provided debt advisory services on the transaction.

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