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Broe Real Estate Signs Colorado Eye Consultants to Anchor New Medical Office Building Concept

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Broe Real Estate Group (BREG) has signed eye care industry leader Colorado Eye Consultants, formerly known as Corneal Consultants of Colorado, to anchor its new medical building located on 4.66 acres at 1501 W. Mineral Ave., Littleton, CO.

BREG acquired the property in October 2019 and is actively converting the traditional office building into a Class A medical facility. Colorado Eye Consultants‘ long-term commitment secures most of the first floor—approximately 34% of the 39,728 SF property.

“Given Southwest Denver’s consistent growth and the corresponding need for medical services in the region, we sought a trusted medical provider to anchor this newly imagined medical concept,” said BREG COO Peter Albro. “Colorado Eye Consultants is a renowned comprehensive multispecialty eye care practice with a deep and successful track record of unsurpassed patient outcomes. We view them as an ideal foundational partner for this project.”

After decades of trusted eye care service to the Rocky Mountain region, Colorado Eye Consultants is looking forward to their future move.

“We are fortunate to have an outstanding group of physicians who are supported by an amazing staff in our practice.  Providing high quality eye care for our patients is our top priority. Our new Mineral Avenue location provides a unique opportunity to align our leading-edge technology and focus on personalized patient care in a fully redesigned space that can conveniently and efficiently serve the region,” said Colorado Eye Consultants‘ partner Karen Repine, MD.

Extensive renovations are underway to fully convert the property into a medical office building concept with surgical center capability. Tenant recruitment continues for a complementary base of medical providers to serve the region’s growing demand for excellent medical care.

 

Source:  PR Newswire

Broe Real Estate Group Adds Site To Growing MOB Portfolio

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Broe Real Estate Group, a private real estate investment firm and affiliate of The Broe Group, headquartered in Denver, Colorado, confirmed the acquisition of a 41,030 square foot office building located on 4.66 acres at 1501 W. Mineral, Littleton, Colorado.

Constructed in 1999, the two-story multi-specialty building located in Douglas County is the ideal candidate for conversion, given its highly visible location and proximity within the sub-market. BREG will undertake significant capital investments to convert the previously zoned office building into a medical office facility equipped to serve the area’s growing need for medical services. Douglas County‘s 19.4% growth since 2010 has outpaced all metro Denver area counties, creating increased consumer medical need.

“The Mineral acquisition offers the opportunity to repurpose a high quality asset into an institutional quality medical space that addresses the area’s continuing need for non-hospital medical services,” says BREG CEO Doug Wells. “Our team is actively pursuing medical tenants to serve the community’s growing needs.”

The Mineral project is BREG‘s fifth transaction supporting MOB repositioning project in the past twelve months totaling nearly 600,000 square feet.

Jeff Wood and Monica Wiley from CBRE listed the property for sale on behalf of WorldVenture, which operated its headquarters at the site for nearly 20 years.

“1501 West Mineral is a highly visible building with excellent access to nearby retail amenities and medical services. Demand for high quality, well-located healthcare options in Douglas County continues to outpace supply, which has been limited in part by rising construction costs,” noted Wood.

 

Source: PR Newswire

The Dry Creek Medical Office Building In Englewood, Colorado, Acquired For $15.6M

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Broe Real Estate Group (BREG), a private real estate investment firm and affiliate of The Broe Group, headquartered in Denver, Colorado, confirmed the $15.6M acquisition of a 57,257 square foot medical pavilion located on 4.23 acres at 125 Inverness Drive East, Englewood, Colorado.

Constructed in 2000, the three-story multi-specialty medical building located in Arapahoe County is uniquely located proximate to four greater Denver area hospitals including Sky Ridge Medical Center (3.4 miles), Centennial Medical Plaza (2.3 miles), Medical Center of Aurora (7.5 miles) and Littleton Adventist Hospital (6.2 miles). The property is an attractive, off-campus medical office asset located in a well-established suburban office and residential hub within one of the fastest growing metropolitan regions in the United States.

“This acquisition is the latest example of our medical office building repositioning strategy,” says BREG CEO Doug Wells. “As a local operator, the BREG team is well-suited to address pending tenant roll and secure strong long-term occupancy. By investing significant capital in physical upgrades and leasing costs and executing a focused asset management program, we will ensure that our tenants can continue to deliver the needed medical services for Coloradans that live and work in south Denver’s rapidly growing region.”

The Dry Creek Medical Office Building marks BREG‘s fourth major MOB repositioning project in the past twelve months totaling nearly 540,000 square feet. Medical assets continue to play a major role in BREG’s Western United States acquisition strategy as it continues to assess opportunities with viable institutional medical exits.

Chris Bodnar and Lee Asher from CBRE Healthcare Capital Markets listed the property for sale.

“Market demand for non-hospital medical services is at an all-time high and Colorado’s population growth continues to exceed national growth rate. Dry Creek Medical Office Building is an institutional quality asset within a highly established, high growth market,” noted Chris Bodnar, CBRE Vice Chairman.

 

Source: Yahoo! Finance