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10/09/24
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A joint venture between Evergreen Medical Properties and a Bain Capital entity purchased 4004 Kruse Way Place, a 59.9k sf medical outpatient building repositioning in Lake Oswego, OR. The price was not given out.
4004 Kruse Way Place is located in the highly sought-after Kruse Way submarket approximately 10 miles south of downtown Portland. The property is close to Interstate 5 and is surrounded by a variety of office buildings, multi-housing properties, retail, and restaurant offerings.
The three-story property is currently 74% leased and anchored by Providence Health & Services. Currently operating as a traditional office property, the buyer intends to convert the building to a premier outpatient healthcare facility to meet the high demand for medical outpatient space within the submarket.
The property was sold by Shorenstein. Evan Kovac with JLL’s Capital Markets National Medical Properties group collaborated closely with Buzz Ellis from the local JLL Pacific Northwest Advisory team in arranging the sale. Additionally, Anthony Sardo and Zach Kersten with JLL worked on behalf of the buyer to secure acquisition financing.
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