Providence Medical Center
High-Performing Providence Health Medical Office in Wealthy Portland Suburb
Marketing description
The Offering presents an inflation-hedged investment opportunity with a well-established tenant operating on a NNN lease, ensuring minimal landlord responsibilities. The lease structure includes annual CPI-based rent escalations, providing a natural hedge against inflation. The tenant’s long-term commitment to the property is evidenced by its occupancy since 2003 and the recent exercise of a five-year renewal option, securing tenancy through 2029. Additionally, the property is situated in Hillsboro, OR, an affluent Portland suburb where average household incomes exceed $166,000 within a mile of the Property, supported by a predominantly white-collar workforce.
Strategically located less than a mile from Orenco Station, a 135-acre mixed-use development, the property benefits from proximity to nearly 2,000 residential units and Portland’s MAX Light Rail, which serves over 70,000 daily riders. This has translated to strong visitor traffic, with this Providence location ranking 9th out of 40 locations in the state for total visits (Placer.Ai). Additionally, seller financing may be available under terms more favorable than traditional lenders, offering a unique advantage to prospective buyers. Contact Northmarq for further details on financing options and investment opportunities.
Investment highlights
- Lease Structure: The tenant operates on a NNN lease, minimizing landlord responsibilities. The lease includes annual CPI-based rent increases, providing a hedge against inflation for ownership.
- Investment Grade Credit: Leased to Providence Health System, rated “A3” by Moody’s with $27 billion in annual revenue.
- Historical Occupancy: The tenant has occupied the space since 2004 and recently exercised a 5-year option, extending firm term through 2029.
- Proximity to Orenco Station: The Property is situated less than a mile from Orenco Station, a 135-acre live-work-play development that has roughly 2,000 residential units already built or planned. It’s also a stop on Portland’s MAX Light Rail, which accommodates over 70k riders per day.
- Strong Local Demographics: An affluent suburb of Portland, Hillsboro’s workforce is made up of predominantly white-collar workers, contributing to average household incomes of over $166k within a 1-mile radius of the Property.
- Potential Seller Financing: Current ownership is open to providing seller financing at terms more favorable than traditional lenders. Contact Northmarq for more information.
Listing Contacts
Valuation Calculator
Valuation Metrics
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
