Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in the single-tenant Reynolds Dog Resort facility located at 2175 SW Borland Road, West Linn, OR (the “Property” or “Asset”). The 6,300 SF asset 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 9.7-years of term remaining, subject to a 3.00% annual rent increases.
The offering also presents the opportunity to acquire two (2) multifamily units situated on the parcel. The residential unit tenants will execute a year-to-year lease at closing, yielding $34,800 in additional annual income.
Nestled within the affluent West Linn, OR Neighborhood, the Asset is ideally situated just off Interstate-205 (83,000+ VPD), along Borland Road. West Linn, Oregon is approximately 15 miles south of Portland, along the west bank of the Willamette River in Clackamas County. Within a 5-mile radius of the Asset, there are over 170K residents with an average household income is $170K. Of the 170K residents in the area, over 50% own at least one pet.
- Private equity backed operator with over 17+ locations across six states
- 9.7 years of lease term remaining, subject to a 3.00% annual bumps
- NN lease structure - minimal landlord responsibilities
- Situated within the Portland, OR MSA
- Corporate guaranteed lease from Village Pet Care
- Direct I-205 (87,000+ VPD) access
- 170k residents within a 5-mile radius of the Asset (over 50% of residents own at lease one pet)
- Affluent surrounding area - $203K average household income within 1-mile radius
- Significant capital improvements at the site
BROKER OF RECORD: CARRIE KAHN
LICENSE #: OR-201206575