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Page 4 — Health Care Properties Quarterly — April 2017
Health Care News
UCHealth Memorial Hospital North
not only has broken ground on a major
expansion to offer new, advanced ser-
vices for patients – it has expanded
the project beyond its original scope to
meet demand in Colorado Springs.
Due in part to increased demand for
health care at the campus, the project
has grown from $85 million to more
than $110 million, expanding the hos-
pital to more than 110 inpatient beds.
The expansion and new tower at
Memorial Hospital North will provide
additional women’s care and birth
center services, including two cesarean
section operating rooms, nine addi-
tional emergency department rooms,
including two more trauma suites, two
additional general surgery operating
rooms and additional acute care and
intensive care unit inpatient beds.
These services, some of which have
expanded beyond the original scope
of the project, will allow Memorial
Hospital North to significantly expand
the birth center, Level III trauma center
and surgical specialties including an
orthopedic and spine surgery program,
according to UCHealth.
“UCHealth is committed to the Colo-
rado Springs region and to providing
the very best care to our
have expanded the original scope of
this project because the demand for
specialized care has grown so rapidly,”
said UCHealth Memorial President
and CEO Joel Yuhas. “This investment
follows more than $130 million spent
since 2012 in new technology, expand-
ed facilities and additional services for
the Pikes Peak region.”
From fiscal years 2014-2016, inpatient
admissions grewmore than 60 per-
cent at Memorial Hospital North, and
births increased more than 20 percent.
Outpatient visits tripled during this
time, underscoring the need for further
development.
“Memorial has become a true region-
al referral center, drawing people from
throughout Southern Colorado and
Northern New Mexico,” said Dr. Jose
Melendez, UCHealth Memorial chief
medical officer. “We offer the most
advanced cancer and cardiology care
in Southern Colorado, and Memorial
is the only hospital able to provide
comprehensive stroke capabilities
for patients in Colorado
are excited about this expansion and
about Memorial’s future.”
The design of the expansion will
complement plans by Children’s Hos-
pital Colorado to build a full-service
pediatric hospital on the UCHealth
Memorial North campus.The hospitals
will collaborate to ensure the commu-
nity has access to advanced adult and
pediatric care on the same campus,
and both projects are expected to be
completed in 2018 or early 2019.
Memorial Hospital North opened as
a small, community hospital in April
2007 and has since transformed into a
full-service hospital at 4050 Briargate
Parkway.
RangewoodMedical Bldg.
trades for $2.19 million
A trust in Denver recently acquired a
Colorado Springs medical office build-
ing for $2.19 million.
The more-than-15,000-square-foot
Rangewood Medical Building at 7560
Rangewood Drive was sold by NetREIT.
At the time of sale, the property was
around 73 percent occupied.
“The buyers were able to buy on
existing income and have some upside
through leasing up the remaining
vacancy,” noted Dan Grooters of New-
mark Grubb Knight Frank. Grooters
and NGKF’s Riki Hashimoto represent-
ed the seller. Cleve Schenck of Genesse
Commercial Group LLC represented
the buyer.
Constructed in 1998, the three-story
facility features glass and steel frame
construction. “It’s a real, high-quality
building near the Rangewood and Bri-
argate areas with a solid residential
base,” added Grooters.
Rangewood Medical Building is home
to tenants including dentists and
orthodontists.
Boulder Community Health
to grow in Erie
Boulder Community Health acquired
6.1 acres of land in Erie, where late this
year construction will start on a two-
story medical office building.
Boulder Community, a commu-
nity-owned and -operated not-for-
profit, will break ground on the
40,000-square-foot medical office
building, which will include an urgent
care facility that has an estimated
completion date of fourth-quarter 2018.
“Boulder Community Health has
served the residents of Erie for many
years, now we will serve directly in
the growing community,” said Darryl
Brown, chief business officer for BCH.
“This property is strategically located
to serve Erie and the surrounding com-
munities.”
“The addition of the BCH facility
not only provides another service for
our health-conscious, family based
community, but provides additional
employment opportunities for Erie,”
said Paula Mehle, economic develop-
ment coordinator. “Erie is experiencing
an increase in skilled service busi-
nesses moving in that will help our
community to attract additional busi-
nesses including the retail and primary
employers that Erie resident’s desire.”
The property, adjacent to Erie Com-
munity Park and the Erie Community
Center, is situated along the main
corridor into historic downtown. In
September, in response to a request
from BCH, a zoning amendment was
approved by the board of trustees to
allow an urgent care facility as a per-
mitted use at this location.
The land sold for $1.6 million
The Suites Loveland
opens doors
One of the largest developers of
health care properties in the country
has wrapped construction on a Love-
land post-acute property.
Hospitality-focused post-acute
propertyThe Suites Loveland recently
opened.The facility, geared for short-
term rehabilitation patients progressing
from the hospital to home, is near the
Medical Center of the Rockies at Cen-
terra.
OZ Architecture completed exterior
design of the 70-bed, 50,000-square-foot
property.The exterior design reflects
the building’s Northern Colorado sur-
roundings and the natural backdrop of
the Rocky Mountains and Long’s Peak.
The design includes use of stone, fiber
cement siding and warm earth tone
finishes.
The general contractor was Meyer
Najem and interior architect was
American Structurepoint Inc.The prop-
erty is owned by Mainstreet Capital
Partners LLC.
Rocky Mountain Gastroenterology
inks lease in Lakewood
Rocky Mountain Gastroenterology
leased 4,890 square feet of space at
Union Financial Plaza, 355 Union Blvd.
in Lakewood.
It leased the space in the 44,000-sf
building, which features a renovated
lobby and “ample” parking spaces.
“This is a great location for RMG,”
said Eric Shaw of Pinnacle Real Estate
Advisors LLC. “The quality of the build-
ing, ease of access and abundant park-
ing will benefit the tenant.”
Shaw, along with Pinnacle Real
Estate’s GregTitus, represented the
landlord,Westerra Credit Union.
Urgent Care Extra closes
two deals across Colorado
Urgent Care Extra recently closed
several deals across Colorado.
It paid $1.2 million for 6480-6486 N.
Academy Blvd. in Colorado Springs, a
6,902-square-foot retail property.
NAI Shames Makovsky’s Bill Maher
and Nathan Palmer of National UC
Realty represented Urgent Care Extra
in its purchase of the space.The seller
was RIG Dublin Square LLC.
An artist’s rendering depicts a new addition under construction at UCHealth Memorial
Hospital North.
A Denver-based trust purchased the Rangewood Medical Building in Colorado Springs.
The 40,000-square-foot building by Boulder Community Health in Erie will include an
urgent care facility.
Rocky Mountain Gastroenterology leased 4,890 square feet in Lakewood.