Colorado Real Estate Journal - July 15, 2015
NexCore Group has broken ground on the first outpatient center in the Vail Valley to consolidate a full range of services under one roof. The health care real estate developer has started construction on Buck Creek Medical Plaza, a threestory, 50,000-square-foot facility off Interstate 70 at the Avon exit at 50 Buck Creek Lane in Avon. The building is designed to accommodate a full range of outpatient services, including primary and specialty physician care, diagnostic imaging and immediate care. The facility also will house local and regional health care providers. “Health care services in the Vail Valley have historically been provided in scattered locations, which primarily tend to be hospital-centric,” said Todd Varney, executive managing director of development at NexCore. “By providing affordable, convenient, high-quality care at an accessible location, the Buck Creek Medical Plaza will improve health care delivery in Eagle County. Patients will enjoy more convenient and coordinated care in a one-stop-shop facility.” The 2.17-acre site, bounded by Nottingham Road, Swift Gulch Road and Buck Creek Road, was one of the few available sites large enough to develop a suitably sized outpatient facility, NexCore noted. NexCore is providing comprehensive real estate services – strategic planning, site selection and acquisition, development, ownership financing, leasing and property/asset management services – for the project. Calcon Constructors is the construction manager for the building designed by Davis Partnership Architects. Buck Creek Medical Plaza is expected to be complete in July 2016.
Cascade Commercial Group recently handled several transactions, including the sale of 5731 Silverstone Terrace in Colorado Springs. The approximately 24,000- square-foot medical/dental office building sold for $1.3 million to Value Investment Group, which was represented by Weston Thomas of Colorado Springs Commercial, a Cushman & Wakefield Alliance. Ted Link of Cascade Commercial noted the building is in a great location for medical and dental tenants in the Garden of the Gods and north and west submarkets and received multiple offers. The Utah-based buyer, expanding into Colorado with the acquisition, plans to make several renovations to the building in order to lease the approximately 12,000 sf available. Link represented the seller, Bruce C. Padgett. The firm also negotiated two medical lease renewals and expansions along the Front Range. It negotiated the renewal and expansion of The Family Practice, Dr. Robert Vogt, at 6005 Delmonico Drive in Colorado Springs. Vogt leased an additional 2,500 sf bringing his total square footage at the building to just over 7,200 sf. Landlord DMI No. 3 LLC represented itself in the transaction. Cascade also represented Health Images South Potomac/ CHER LLC’s 8,557-sf lease renewal and expansion at 1300 S. Potomac St. in Aurora. It leased the additional square footage in order to maximize its profitability in the submarket, added Link. The landlord, I-225 Kai’Ohu LLC, was represented by Chris Nordling and John Gustafson of Newmark Grubb Knight Frank.