August 22, 2019 – JLL announced today that it has closed the $10.75 million sale of Wilsonville Medical Plaza, a 24,057-square-foot medical office building in the Portland-area community of Wilsonville, Oregon.
JLL marketed the property on behalf of the seller. A private investor in a 1031 exchange emerged through a highly competitive sale process and purchased the medical office property in an all-cash transaction.
Constructed in 2009, Wilsonville Medical Plaza serves as a strategic outpatient medical center for both Providence Health (Moody’s: Aa3) and Sports Medicine Oregon (SMO). The building is located on 2.25 acres at 29345 SW Town Center Loop approximately 15 miles south of downtown Portland in Wilsonville, an affluent community that is the fastest-growing suburb of Portland and the third fastest-growing city in Oregon. The property is strategically positioned for easy access and visibility from Interstate 5, the prominent north-south freeway that connects Portland to Salem. Within a mile of Wilsonville Medical Plaza, there are three well-regarded senior living communities, Brookdale Wilsonville, The Springs at Wilsonville and Portera at the Grove.
The JLL Capital Markets team representing the seller was led by Managing Director Evan Kovac, Directors Andrew Milne and Logan Greer, Senior Associate Trent Jemmett and Analyst Maria Poyer.