Reynolds Pet Resort - Tualatin, OR_Property for Sale
Reynolds Pet Resort - Tualatin, OR_Property for Sale
6860 SW Norse Hall Rd, Tualatin, OR, 97062, US

Reynolds Pet Resort - Tualatin, OR

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in the single-tenant Reynolds Dog Resort and training facility complex located 6860 SW Norse Hall Rd, Tualatin, OR (the “Property” or “Asset”). The Pet facility is 100% leased and operated by Village Pet Care, LLC (“Village Pet Care” or “Tenant”), an experienced operator backed by an established private equity firm, General Atlantic. The lease currently has 7.8-years of term remaining and is subject to a 3.00% annual rent increases.


The offering also presents the opportunity to acquire the single family rental property that is situated on the subject parcel. The residential tenant executed a year long lease (expiring 12/05/2025) for $3,310 monthly rent or $39,720 annually.


Village Pet Care is a leading pet care services platform committed to providing high-quality pet care in North America. The company currently owns and operates 17 pet care services centers across six states, providing pet boarding, daycare, grooming, and training offerings. Village Pet Care is backed by General Atlantic, a leading global growth equity firm.


The Asset is conveniently located just 12 miles south of Portland and 30 miles north of Salem, the state capital. Situated at the intersection of Interstate highways 5 and 205, The Property benefits from high traffic counts of over 230,000 VPD. The interstate provides residents and customers prime connectivity. Within a 5-mile radius of the Asset, there are over 175K residents. Over 47% of those residents own at least one pet.


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Attributes

Asking price
NZ$3,005,000
Cap rate
8.67%
Lease type
Net lease (N/NN/NNN)
WAULT
7.8 years
Building area net
418 m²
Land area gross
2.31 ha
Occupancy
100%

Media

Investment Highlights

  • Tenant has a long term partnership with Village Pet Care, an experienced PE backed operator
  • Over 47% of residents own at least one pet within a 5-mile radius
  • Lease is structed as NN, resulting in minimal landlord responsibilities
  • The Asset is conveniently located just 12 miles south of Portland and 30 miles north of Salem
  • There are 151K residents with an average household income of $157K within a 5-mile radius of the Asset
  • The lease currently has 7.8-years of term remaining and is subject to a 3.00% annual rent increases
  • Proximate to the intersection of Interstate 5 and 205, benefiting from high traffic counts of over 230,000 VPD
  • Approximately 2.5 million people live in the Portland metropolitan statistical area, making it the 25th most populous in the United States
  • Offering presents an opportunity to acquire the residential asset located on the subject parcel


Reynolds Pet Resort - Tualatin, OR 4_Property for Sale
Reynolds Pet Resort - Tualatin, OR 4_Property for Sale

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Reynolds Pet Resort - Tualatin, OR (0 Properties)

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Last updated
18 Mar 2025