As Mile High CRE announced last week, as part of our MOB feature, Mortenson Development is partnering with Realty Management Group, a private Denver real estate investment and development company, to build a new medical office campus in Colorado Springs, called Pine Creek Medical Center.
Strategically located on the northwest corner of North Union Blvd. & North Powers Blvd, two heavily-trafficked corridors providing excellent visibility and convenient access. Pine Creek is situated directly across the street from the rapidly developing UCHealth Memorial Hospital North and Children’s Hospital Colorado campus.
The 50,000-square-foot, 2-story medical office building will cater to the soaring demand for space by health care professionals who want to be near two hospitals and fast-growing neighborhoods. Davis Partnership Architects was awarded the design contract, and Mortenson Construction will be the general contractor. The first phase of the project is scheduled to break ground in the 2nd quarter of 2018.
Mortenson Development has selected National Healthcare Realty to be the exclusive broker to handle the marketing and pre-leasing of the new campus.
“Colorado Springs and most of northern El Paso County haven’t seen much in the way of new medical office building development in recent years” said Jecoah Byrnes, CEO of National Healthcare Realty. “The hospital has performed very well under the UC Health brand, and there is a renewed interest by physicians who want to be near the hospital campus and in close proximity to their growing patient base. Add to that the overall lack of availability in the area, and we have received a very positive response from the local medical community”.
As patients are accessing healthcare in a more retail oriented fashion, location and visibility are now more than ever key in the success of medical office buildings and the tenants that occupy them. “Our location is really unmatched in the market” said Taber Sweet, Development Executive with Mortenson Development. “Our JV partner, Realty Management Group, had the long-term vision for this land and collectively, we have been able to create a very thoughtful healthcare project in a strong retail corridor. Now with the recent news of the Powers extension continuing north to Interstate 25, our location is just that much more accessible to people living north of the city in places like Northgate, Monument, Gleneagle, and Black Forest”.
Rendering courtesy of National Healthcare Realty.
