KB Exchange Trust is pleased to offer this multi-tenant medical office building structured as a Delaware Statutory Trust for 1031 exchange investors. Westmoreland Medical Center, located in Eugene, OR, consists of two connected medical buildings totaling approximately 34,303 sq. ft. This Offering is strategically located in southwestern Eugene as the only full-service medical clinic serving a trade area encompassing 48,000 households and 115,000 residents.
The property’s major tenant, Oregon Medical Group (“OMG”), has more than eight years remaining on a 10-year lease. OMG is the largest private healthcare provider in Eugene and comprises over 60% of the total rentable space. OMG occupies the entire second building (1650 Chambers), which was built-to-suit for them as their expansion needs exceeded the available square footage in the original building (1680 Chambers). The second major tenant at the property is Community Health Centers of Lane County-Brookside Clinic, which has an investment-grade credit rating according to Moody’s rating agency (Aa1).
Eugene is the second largest city in Oregon, home to more than 140,000 people. Its proximity to the Pacific Ocean and the Cascade Mountain Range provides a temperate climate with mild winters. Known as birthplace of Nike, the Emerald City, and home of the University of Oregon Ducks, Eugene is a highly desirable place to live with its outdoor recreation options, attention to the environment, and craft beer. The Eugene-Springfield area is becoming an increasingly important center for health services in western Oregon with three hospitals serving this area near the confluence of the McKenzie and Willamette Rivers.