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3/14/17
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Stockdale Capital Partners paid $23.5 mil for Gresham Station Medical Plaza, a 100.4k sf ($234/sf), four-building medical office complex in the suburban Portland community of Gresham, OR. The asset was sold by Westlake Realty Group Inc.
Completed in 2004, the property is 77 percent leased and is anchored by Adventist Health. Additional tenants include DaVita HealthCare Partners Inc. and Providence Health & Services. The facility provides an array of services, including surgery, imaging, dialysis, primary care, orthopedics, laboratory, physical therapy, dermatology, dentistry, women’s health and pediatrics.
Gresham Station Medical Plaza is located at 831 NW Council Dr, 862-894 NW Burnside Dr and 1851-1867 NW Civic Dr, near the Adventist Medical Center. This location, southeast of Portland, is adjacent to Gresham Station Shopping Center, Gresham City Hall and the Civic Drive MAX station, and has a population of 243,000 people within a five-mile radius.
Nick Kucha, Evan Kovac, Andrew Milne and Trent Jemmett with HFF represented the seller in the transaction. In addition, HFF’s Jeremy Womack and Erica Christensen arranged the the acquisition financing for the deal.
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