The sale of the campus is part of a plan to build long-termfinancial stability for the university's new school. The universityhas raised $20 million so far but wants to raise $60 million, andthe sale of the campus could take it close to that goal. OHSU isreportedly already talking to a broker about the disposition. Thesale is expected to occur later this year.

The school occupies only a portion of the built space on thecampus and any sale would include a leaseback arrangement thatcould go on for several years. The value of the buildings couldrange from $90 per sf for older, unoccupied single-story space toas much as $200 per sf for newer multistory buildings withrent-paying tenants. The value of any developable land would be inthe range of $7 per sf, based on recent comparables. If the builtspace were to fetch $120 per sf on average, the sale price would bein the $32-million range.

Hillsboro City officials see the property becoming anothermaster-planned mixed use community similar to Tanasbourne, an850-acre mixed use project master planned by Standard Insurance anddeveloped over the past 30 years. The property sits betweenTanasbourne on the north and the region's Max light rail line onthe south. Immediately to its west is Amberglen Business Center,the state's largest office park at 217 acres. Hillsboro cityofficials envision it being part of a 580-acre master planned areaat the east end of the city.