MOB In Denver Market Among Top 20 Largest US Deliveries of 2024

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Despite difficult capital conditions, the medical office sector remains a strong player in the commercial real estate industry, demonstrating resilience.

With that in mind, CommercialSearch just published a new report overviewing the medical office building market. The report looked at the 20 largest medical office deliveries of 2024, highlighting the markets with the most active medical office pipelines as well as the evolution of the largest U.S. medical building markets over the last 10 years.

The Madison market is home to the largest medical office building to be completed this year. Standing at 469,000 square feet, the Eastpark Medical Center is slated for completion in Q3 2024.

Denver Findings:

  • A rendering of the Intermountain Health Lutheran MOB. (CREDIT: Davis Partnership Architects)

    The Intermountain Health Lutheran Medical Office Building in the Denver market will be the 11th-largest medical office delivery to be completed this year, standing at 137,000 square feet.

  • Owned by Intermountain Healthcare, the building broke ground in December of 2022 and will open to the public in Q3 of 2024.
  • Davis Partnership Architects is the architect and Saunders Construction is the general contractor for the project.

NexCore Group was selected by Intermountain Health to develop the 5-story, 130,000-square-foot medical office building on the new 28-acre Lutheran campus, located at 12905 W. 40th Ave. in Wheat Ridge. The campus, including the hospital, is being relocated about 3.5 miles from its current location. The independent medical office facility will connect to the new Lutheran Hospital via a pedestrian bridge. Planned building services include cardiovascular, maternal & fetal medicine, a weight loss center, a breast cancer center, a neurology and neurosurgery center, a laboratory, and a joint-venture ambulatory surgery center.

Click here to read the full CommercialSearch report.

 

Source: Mile High CRE

Medical City McKinney Embarking On A $50 Million Expansion Project

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Medical City McKinney is embarking on a $50 million expansion project, adding a five-story, 124,500-square-foot medical office building adjacent to the hospital.

This expansion will accommodate more high-level medical specialists and critical services like cardiology and orthopedics, which are set to open in the summer of 2025. Complementing the recently opened $17 million women’s hospital in November 2023 and a $64 million patient tower with an ER expansion in December 2021, this project helps meet the needs of a vibrant and growing community by being done in three phases.

The first phase includes a new parking lot on the west side of the campus, providing over 550 additional spots for the convenience of patients, visitors, and staff.

 

Source: D CEO Magazine