Considerations for medical office leases
Leases for medical office space raise additional issues and considerations beyond those of a standard commercial office lease. Both landlords and tenants should be aware of these unique issues so they can draft a lease that sets up both parties for success.
Some of the key issues for landlords and tenants leasing medical office space to consider are: hazardous materials and biohazard waste, access and utilities, Stark Act and anti-kickback, entry rights and HIPPA, death and disab…
REIT buys Greeley MOBs for $15.03 million
A Greeley medical office portfolio that traded for $15.03 million was among $47 million in acquisitions announced by American Healthcare Investors and Griffin Capital Corp., co-sponsors of Griffin-American Healthcare REIT II Inc.
The Northern Colorado portfolio consists of three buildings across the street from the 378-bed North Colorado Medical Center. They were 93 percent occupied, almost entirely by University of Colorado Health. UCH’s lease expires in 2020.
The buildin…
Center City Plaza sells for $5.05m
Center City Plaza, a sought-after office/medical office building in Colorado Springs’ central business district, recently sold for $5.05 million.
Center City Holdings LLC, represented by Kevin O’Neil of The O’Neil Group Co., who also was a principal in the transaction, purchased the 37,000-square-foot building at 455 E. Pikes Peak Ave.
“Center City Plaza is the nicest building in the CBD under 50,000 square feet,” said Ted Link of Cascade Commercial…
Denver investment market in Top 10
The Denver commercial real estate market is among the top 10 investment markets in the country, due largely to a strong local economy aided by a diverse employment base and good quality of life, PwC Denver-based real estate expert Wendy McCray said in response to the fourth-quarter PwC Real Estate Investor Survey. The survey is an outlook on commercial real estate based on hundreds of interviews and survey responses from real estate market participants. Total transaction volume in…
Medical uses in future for Interstate 25 and Highway 52
The area surrounding Interstate 25 and Highway 52 between Denver and Northern Colorado been called a “medical desert,” but that is about to change. Major health systems have laid claim to land on either side of the interchange in Frederick. Exempla Healthcare just purchased 50 acres at the northwest quadrant for a future hospital campus. Longmont United Hospital and University of Colorado Health own just under 70 acres at the northeast quadrant, where Longmont Uni…
Bodnar works on $77.9 million sale of health care portfolio
Chris Bodnar of CBRE's Denver office and head of the firm's national Healthcare Capital Markets Group closed the largest multistate medical office portfolio sale in the country so far this year in conjunction with the health care group's Lee Asher, who is based in Atlanta. The $77.9 million transaction included 10 buildings totaling 315,179 square feet in Alabama, Florida, Hawaii, Indiana, New Mexico, South Carolina and Texas. The assets traded to a health care real estate investm…
How does the patient-centered medical home care concept translate?
Read the second in Davis Wince Ltd.'s Sonja Mirksy, LEED GA, posts on the Colorado Real Estate Journal's Heath Care and Medical Office Building Conference and Expo in which she discusses how the patient-centered medical home care concept translates to health care design for architects.
Hospitals need cash! How will they get it?
Davis Wince Architecture Ltd. Associate Sonja Mirsky, LEED GA, has penned a three-part blog on topics covered at the Colorado Real Estate Journal's recent Health Care and Medical Office Building Conference and Expo. Mirksy's first post, "Hospitals need cash! How will they get it?", discusses how capital constraints tied with broader economic and regulatory improbability continue to plague health care systems.
Hospice opens doors to new HQ
Pikes Peak Hospice & Palliative Care recently opened the doors on its new headquarters facility, which marks the first time in the organization's 32-year history it has owned its headquarters facility. Read more in the July 4-July 17 issue of the Colorado Real Estate Journal.
Work nears completion on mental health facility
The Mental Health Center of Denver is wrapping up renovations to its new flagship adult services clinic.
General contractor and construction manager Taylor Kohrs is leading the redevelopment of the 110,000-square-foot (including basement) building at 4455 E. 12th Ave. in Denver, which will consolidate several smaller clinics in the surrounding community into the property, formerly owned by University of Colorado Health Sciences. Read more in the June 20-July 3 issue.
St. Anthony enters contract to sell former campus
St. Anthony Hospital has entered into an agreement with EnviroFinance Group LLC for the purchase and sale of the former St. Anthony Central Hospital Campus in Denver. The project will be managed by EFG Brownfield Partners, EnviroFinance’s Denver-based development arm. The agreement calls for redevelopment of the campus while preserving uninterrupted medical services. Redevelopment plans have focused on a largely residential mixed-use neighborhood with a variety of housing ty…
Saunders Construction breaks ground on hospital
Saunders Construction Inc. recently broke ground on the new Children’s Hospital South Campus in Highlands Ranch.
The firm, the project’s construction manager and general contractor, was joined in kicking off the construction of the 175,000-square-foot facility with the architectural team of Davis Partnership and FKP Architects, owner’s representative Balfour Concord as well as Shea Properties and PrimeWest. See more in the June 20 issue of the CREJ.