Gresham’s newest business park will soon see the start of construction for a new medical facility near the ON Semiconductor campus. Port Commissioners have approved the $1 million sale of 2.79 acres located at the Port’s Gresham Vista Business Park to Physicians Capital Investments, LLC.
Physicians’ Capital 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 competitiveness.
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.
Related Links:
Port of Portland Properties
Physicians’ Capital Investments, LLC
