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Gresham Medical Office Complex Sells For $23M

Gresham Station Medical Plaza

The 100K SF Gresham Station Medical Plaza, a four-building medical office complex in Gresham, traded hands for $23.5M. It is the latest disposition for the California-based Westlake Realty Group, which also sold the adjacent Gresham Station Shopping Center last year. The buyer of the medical buildings was Stockdale Capital Partners.

The properties are near Adventist Medical Center, southeast of Portland. Completed in 2004, the buildings are 77% leased and anchored by Adventist Health. Other tenants include DaVita HealthCare Partners Inc. and Providence Health & Services. A variety of services are provided in the properties, including surgery, imaging, dialysis, primary care, orthopedics, laboratory, physical therapy, dermatology, dentistry, women’s health and pediatrics.

HFF's Nick Kucha, Evan Kovac, Andrew Milne and Trent Jemmett repped the seller. Jeremy Womack and Erica Christensen arranged financing for the deal.