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Exceptional investment opportunity: a 178,596 square foot flex space in Portland, Oregon, currently leased to Providence Health and Services – Oregon, an affiliate of Providence St. Joseph’s Health (Moody’s A2 Credit). This property boasts a long-term, 10-year remaining lease (through 12/31/2034) under a triple-net (NNN) lease structure, commencing on 12/31/2019. The asking price is $20,760,000, translating to $327.95 per square foot. Built in 1969 and extensively renovated in 2008, the property features 6 dock-high doors, a 19-foot ceiling height, and ample parking for 206 vehicles. Situated on a 4.1-acre lot in the EG2 Employment & Industrial Zone, this mission-critical location is less than one mile from Providence Portland Medical Center, a major regional hospital. The property's strategic location provides easy access to I-84, I-5, downtown Portland, Portland International Airport, and the Port of Portland. The tenant utilizes approximately 25% of the building for warehousing medical supplies and 75% for pharmaceutical R&D, office, and patient services. A $10,900,000 assumable loan with 3.908% interest-only payments is available until January 1, 2030. The net rentable area is 63,303 square feet. This property represents a stable, high-value investment with a strong tenant and prime location.
Highlights
$10,900,000 assumable loan at 3.908% interest-only, maturing January 1, 2030.
10+ year remaining lease with Providence Health & Services – Oregon (Moody's A2 credit), under a triple-net (NNN) lease structure.
Mission-critical location less than one mile from Providence Portland Medical Center, serving as a distribution, R&D, and patient services hub.
Prime location with convenient access to I-84, I-5, downtown Portland, Portland International Airport, and the Port of Portland.
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.