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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

Texas Health Rockwall Nearly Doubles Size Of Hospital: Estimated $104 Million Project Serves Growing Community

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Work is complete on an estimated $104 million expansion and renovation project at Texas Health Hospital Rockwall that nearly doubles the size of the facility.

A Level II neonatal intensive care unit (NICU), a cardiac catheterization lab and an expanded Emergency Department are among the new and enhanced spaces meeting increasing healthcare needs in this part of North Texas.

“We are growing with the communities we serve,” said Cindy Perrin, FACHE, president of the hospital. “We are proud of our new NICU, which is helping meet the health needs of our tiniest patients. We are also helping increase access to critical care services for more families, which we hope will bring them greater comfort.”

The eight-bed NICU, a first for Texas Health Rockwall, includes two private rooms and a separate room for parents who need to stay overnight. The hospital is expected to deliver an estimated 1,200 babies this year, up from about 400 in previous years.

The expansion at Texas Health Rockwall*, a joint venture between Texas Health Resources and area physicians, increases access to medical services for nearby communities, especially families living east of Lake Ray Hubbard.

Rockwall County’s population is on the rise. The population of the county was listed at 123,208 as of July 1, 2022, according to the U.S. Census. That figure is up from April 2020 when the population recorded was 107,819.

The hospital began as a small community facility in December 2007. As the region experiences continued growth, the hospital has strived to grow too – expanding to meet the needs of patients and opening healthcare access to communities shifting from rural to suburban. Today, it serves patients and families from Rockwall, Kaufman, Hunt, eastern Dallas and southern Collin counties.

The hospital’s two-story inpatient bed tower was expanded to four stories. The project, which added 32,000 square feet and renovated 51,000 square feet, was completed in phases during the past four years.

The renovated areas have spacious waiting rooms in light blue and gray tones. Wave features painted on the walls allude to the nearby lake and are intended to instill a sense of calm. Most of the first floor of the hospital was renovated or refreshed. The facility’s front-line caregivers provided input on the design based on needs identified during the COVID-19 pandemic.

Inside Texas Health Rockwall’s Expansion:

  • New NICU
  • Ten new Labor & Delivery Rooms in an expanded Labor & Delivery area
  • Two C-section rooms or operating rooms designated for patients delivering by cesarean section.
  • Twenty-four postpartum rooms
  • Twelve intensive care unit (ICU) beds
  • Renovation of the Post Anesthesia Care Unit – the recovery area in which patients are monitored after surgery.
  • Seven new emergency room beds, for a total of 14 in the expanded Emergency Department
  • New cardiac catheterization lab where healthcare professionals diagnose and treat common heart and blood vessel problems using sophisticated diagnostic procedures, screenings and interventional services.
  • New interventional radiology, or IR, suite, where doctors use imaging to diagnose and treat many health conditions.
  • New kitchen
  • New central energy plant
  • Additional parking on the north and south sides

Texas Health Hospital Rockwall is a joint venture involving Texas Health Resources and physicians dedicated to the community and meets the definition under federal law of a physician-owned hospital. Doctors on the medical staffs practice independently and are not employees or agents of the hospital.

 

Source: Blue Ribbon News