FOR IMMEDIATE RELEASE
PORTLAND, ORE. (MAR. 14,
2012) – First Sale Approved at
Gresham Vista Business Park
business park will soon see the start of construction for a new medical
facility near the ON Semiconductor campus. This morning, Port Commissioners
approved the $1 million sale of 2.79 acres located at the Port’s Gresham Vista
Business Park to Physicians Capital Investments, LLC.
Investments, LLC (PCI) has built over 20 medical facilities throughout the
United States. PCI plans to build a new 10,300-square-foot building with
associated parking, fencing and landscaping. The building will be owned in part
by the Portland Hypertension and Nephrology Clinic, LLP, and will be leased to
Fresenius Medical Care North America, which will relocate its existing Gresham
clinic with 14 employees while adding approximately 10 full time local jobs.
“Gresham Vista is
providing a place for this local business to grow without having to relocate
outside of its community,” said Joe Mollusky, Real Estate Program Manager for
the Port of Portland. “And it was an ideal fit for this small lot – it is one
of only three parcels within the business park that allows commercial use.”
The new medical
facility is expected to be designed, permitted, constructed and operational
within the next 18 months. Future plans call for additional medical offices in
a future phase of development on the same site near the entrance to the
property on SE Stark Street.
“The Gresham project
signals PCI’s entry into the state of Oregon. PCI is honored to work with the
Port of Portland and act as a catalyst in Gresham Vista for medical related
development,” said Pedro Vergne-Morell, CEO of PCI. “We are also excited to be
adding long-term employment opportunities to Gresham.”
Last November, the
Port purchased the surrounding 221 acre site in Gresham from LSI Logic Corp.
for $26.5 million. The site has promising potential as a home for clean tech,
manufacturing, food processing, logistics and other traded sector companies.
According to the Regional Industrial Lands Inventory, available and
development-ready industrial sites of this size are becoming increasingly rare
in this region, and they are needed to support future economic growth and
Ultimately, the Port
and the City of Gresham aim to attract significant investment and jobs to
Gresham Vista Business Park. At completion, the park will include a total of
eleven lots on 203 developable industrial acres. The remaining 18 acres are
zoned commercial or corridor mixed use. The site is well served by
transportation arterials and utilities on all four sides.
As a patient public
developer, the Port is able to acquire and plan for strategic industrial
development, working with regional partners on infrastructure needs and
recruitment while reinvesting revenue from the sale of properties to advance
similar projects that grow Oregon’s jobs and tax base.
# # #
the Port of Portland
in 1891 by the Oregon Legislature, the Port of Portland owns four marine
terminals, three airports (Portland International, Hillsboro, and Troutdale)
and five industrial parks. The mission of the Port is to enhance the region's
economy and quality of life by providing efficient cargo and air passenger
access to national and global markets.
Physicians’ Capital Investments, LLC
in 2007, PCI has over 100 years of combined medical construction/development,
clinical care and healthcare management experience. Over the last four years,
PCI has successfully developed customized, high-quality, modern and efficient
medical office and clinical facilities across the United States. PCI guides
each project by providing ongoing expertise in project management, development,
financing, lease negotiations, facility and investment management services.
Typically, PCI provides a unique opportunity for individual physicians and
their employees to purchase medical and clinical facilities while limiting
liability. PCI is owned in part by physicians; which inspires the Company’s
tagline “Physicians Investing in Physicians.” In addition to its headquarters
in Dallas, Texas, PCI also maintains a regional office in Denver, Colorado. For
more information on PCI, please visit www.physcap.com.