CREJ

Page 4 — Health Care Properties Quarterly — October 2018 www.crej.com Health Care News Denver Health recently broke ground on a 293,000-square-foot building, which will “significantly” increase the hospital’s ability to provide outpatient care and meet the future needs of Denver. Close to half of the $157 million cost to build the Outpatient Medical Center comes from a citywide bond measure, Elevate Denver, which was passed by Denver voters last fall. The OMC is expected to be com- pleted in 2020. “As demand for health care increases along with Denver’s popu- lation, Denver Health is looking to future requirements and will need additional floor space and updated facilities,” said Dr. Robin Witten- stein, Denver Health CEO, who noted that Denver Health provides medical care to nearly one-third of Denver’s population. “The new Outpatient Medical Center will provide the city with a state-of-the-art medical facility which will offer the highest quality medical services to Denver resi- dents for many years to come.” Elevate Denver is a 10-year, $937 million general obligation bond program approved by voters in 2017 that will enhance the city and county of Denver by providing critical improvements to the city’s infrastructure – improving roads, sidewalks, parks, recreation centers, libraries, cultural centers, Denver Health, public-owned buildings and safety facilities. “As a Denver Health patient myself, we all know that everyone who walks through these doors gets the same high-quality care, that’s why the people of Denver voted last year to include this new facility we see emerging today in the Elevate Denver bond package,” said Denver Mayor Michael B. Hancock. “This is about equity for our resi- dents – the Elevate Denver Bond project for the new Outpatient Med- ical Center will increase access to health care and deliver high-quality care to Denver residents, expanding Denver Health’s capacity signifi- cantly.” “This state-of-the-art facility will let Denver Health serve significantly more people than it now does. It will also bring specialty clinics together under one roof,” said Con- gresswoman Diana DeGette. “It will meet the needs of current and future Denver residents from all walks of life. Denver Health is truly a gem of our health care sys- tem, and I am pleased to see its growth over the years to expand and meet our community’s growing needs.” In the coming years, Denver Health anticipates many of its clin- ics will reach capacity. According to a feasibility study for the center, patient demand will exceed capac- ity in Denver Health outpatient clin- ics by 2019. The OMC will enhance Denver Health’s ability to provide treat- ment for heart disease, cancer and diabetes. It also will be a center for behavioral health, dental and oral health, and offer expanded services for eye exams and physical therapy. Once completed, the center will centralize numerous services under one roof in an easy-to-access down- town location on Denver Health’s main campus. It will include a day surgery center, expanded pharmacy operations, lab services and radiol- ogy. Consolidating clinics also will free up much needed space on the cam- pus, allowing the hospital to boost primary care services, increase the number of inpatient psychiatric beds and expand operating rooms. It will be built on the site of the former Denver Health administra- tion building at 660 Bannock St. HKS is the architect for the OMC and Turner Construction is the con- tractor. NexGen Properties acquires EastRidge Medical Office Building Greenwood Village-based NexGen Properties picked up a Highlands Ranch medical office building for $4.73 million. The 23,119-square-foot EastRidge Medical Office Building at 6660 Tim- berline Road was sold by LNR. Brad Cohen, Larry Thiel and Lau- ren Quiram of Transwestern’s Den- ver Capital Markets Group brokered the transaction on behalf of the seller. Built in 2005, EastRidge Medical Office Building is 89 percent leased Denver Health breaks ground on $157M project The Outpatient Medical Center is slated for completion in 2020. A “substantial” amount of interest was seen in the Highlands Ranch property.