Ethos Commercial Advisors was engaged by ownership to lead the medical office leasing effort at 5005–5035 NE Sandy Boulevard, an MOB in Portland’s Hollywood District anchored by The Portland Clinic, one of the region’s established multispecialty medical groups. From the outset, the leasing strategy was focused not only on filling the remaining vacancy, but on strengthening the tenant mix and maximizing the long-term value of the building.
During the first six months of active marketing, Ethos generated ten tenant tours and three proposals through targeted outreach, broker engagement, and active management of the leasing process. As negotiations advanced with two of the prospective tenants, Ethos worked collaboratively with both teams to adjust suite sizes and space configurations, allowing both transactions to move forward within the building. To secure one of these tenants, a national dental group, Ethos implemented a strategy to outmaneuver competing space and advised ownership to proceed with design and permitting of a demising wall ahead of full lease execution, accepting calculated pre-lease risk to preserve the compressed construction timeline and the tenant’s targeted commencement date.
Within a two-week period, Ethos finalized leases with two national-credit tenants, bringing the property to 100% occupancy alongside The Portland Clinic. The completed lease-up strengthened the tenant mix, stabilized the asset, and increased the building’s estimated market value by 26%.
As part of its broader healthcare advisory relationship with ownership, Ethos also coordinated with its debt and equity team on financing strategy in support of the building’s leasing and ownership objectives.
Ethos Service
City
- Portland, OR
Associated Team Members
- Josh Bean, SIOR
- Executive Managing Director, Partner
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- Brian Hanson, MREF
- Senior Managing Director, Partner
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