Colorado Real Estate Journal -

St. Anthony North opens Westminster medical pavilion

by Jill Jamieson-Nichols


The St. Anthony North Medical Pavilion in Westminster opened with 97 percent of its space leased and expansion in the forseeable future.

The $26 million freestanding emergency department and medical office building is the first facility to be constructed on St. Anthony North’s 35-acre campus at the southwest corner of Interstate 25 and 144th Avenue, directly across from The Orchard Town Center.

St. Anthony North, part of Centura Health, occupies the majority of the 48,000-square foot building, which includes 24-hour emergency care; an advanced imaging center offering diagnostic services and general radiology; laboratory services; an inpatient pharmacy; and Flight for Life heliport.

“The medical pavilion was built with every detail strategically intended to ensure our patients receive exceptional service with the most convenient experience,” said Carole Peet, CEO of St. Anthony North Hospital. “This is the first phase of this building, and we will be announcing expansions soon.” Each of the departments within the two-story building has separate entrances to access different services and provide personalized care. However, if services from a different department are needed to fulfill treatment needs, those services are conveniently available.

Located at 400 W. 144th Ave., the building is configured in a horseshoe shape with supplies, pharmaceutical and waste stations in the center and treatment rooms on either side. The design allows medical staff to easily access supplies and navigate the building to provide care as quickly as possible.

For staff and EMTs, there is a lounge stocked with refreshments, a waste station and supplies closet directly adjacent to the emergency vehicle pull-up.

NexCore developed the facility in collaboration with St. Anthony North Hospital. St. Anthony recently signed an additional lease to house its gastrointestinal laboratory, which also will be a licensed ambulatory surgery center, bringing the building’s occupancy to 97 percent. In addition to the hospital, the building houses three independent physician tenants: True Orthopedics, May Eye Clinic and Advantage ENT LLP.

NexCore Group is the owner of the facility, which was designed by Davis Partnership and built by Calcon Constructors. NexCore is the property and asset manager.

The building is the second of three outpatient facilities that NexCore will complete this year. It completed the Rex Wellness Center of Nightdale in North Carolina in June and will complete the United Health Services Outpatient Medical Facility in Vestal, N.Y., this month.

Other News



Physician Health Partners recently signed a lease for 31,863 square feet of office space at 1125 17th St. in Denver.

Cassidy Turley Fuller Real Estate brokers Doug Wulf and Robert Knisely represented the landlord, 1125 Transwestern Broadreach. Brian Wells of CBRE represented the tenant.

Front Range Orthopedics leased 29,484 sf of medical office space at 4105 Briargate Parkway in Colorado Springs.

The group is relocating to the 85,000-sf building from downtown Colorado Springs.

Greg Phaneuf and Peter Scoville of Cushman & Wakefield/ Colorado Springs Commercial represented the landlord, HR Briargate LLC. Russell Stroud and Susan Beitle of Quantum Commercial Group Inc. represented the tenant.

Mountain View Medical Group renewed its lease for 16,196 sf of medical office space at 5575 Tech Center Drive in Colorado Springs.

Michael Palmer of Quantum Commercial Group Inc. and Jason Bollhoefner of Corum Real Estate represented the landlord, CIII Asset Management LLC. n Market fundamentals for medical office buildings have improved through the first half of the year, with core, Class A medical office assets reaching pricing levels similar to or above pre-credit crisis levels according to Cushman & Wakefield’s Medical Office Investor Survey.

Average capitalization rates for Class A and B medical office buildings continued to decrease over the last 12 months by approximately 25 to 50 basis points.

“The improvement in market conditions is a continuation of improving capital markets, the performance of the public and private REITs that have flush cash balances, as well as a limited supply of good-quality product available for sale,” the report said. “A majority of investors continue to remain upbeat regarding MOBs as an asset class, while there is a small but pensive group that is beginning to wonder how long pricing fundamentals will remain this favorable for MOBs, given all the positive trade winds it is currently enjoying.” Clear Choice Medical Management Services expanded by 5,602 sf at Crescent VIII, 8350 E. Crescent Parkway, in Greenwood Village. The company occupies approximately 25,000 sf in the building.

Andrew Piepgras and Peter Thomas of Transwestern represented the landlord. Tom Grotewold and Todd Rosen of Rare Space represented the tenant.