JLL has closed the sale of 4004 Kruse Way Place, a 59,865-square-foot medical outpatient building repositioning in Lake Oswego, Oregon. JLL represented the seller, Shorenstein, and procured the buyer, a joint venture between Evergreen Medical Properties and Bain Capital’s real estate team.

4004 Kruse Way Place is located in the Kruse Way submarket near downtown Portland. 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.

Evan Kovac, part of JLL’s Capital Markets National Medical Properties group, collaborated closely with Buzz Ellis from the local Pacific Northwest Advisory team, in arranging the sale. JLL’s Debt Advisory team worked on behalf of the buyer to secure acquisition financing. The team was led by Anthony Sardo of the National Medical Properties group and Zach Kersten from the Pacific Northwest Advisory team.