Mineral Medical Plaza, a 39,300-square-foot Class A medical outpatient building (MOB) located at 1501 W. Mineral Avenue in Littleton, has sold. Terms of the transaction were not disclosed.
Chris Bodnar, Brannan Knott, Mindy Berman, Zack Holderman, Cole Reethof, Trent Jemmett and Jesse Greshin of CBRE U.S. Healthcare Capital Markets partnered with Blake Holcomb of CBRE’s Denver Leasing team to act as the exclusive advisors to the seller, Broe Real Estate Group.
The two-story MOB features a state-of-the-art multi-specialty surgery center and benefits from proximity to AdventHealth Littleton, UCHealth Highlands Ranch Hospital and Children’s Hospital Colorado South Campus. The property was repositioned in 2020, undergoing extensive renovations to be transformed into an outpatient healthcare center providing the growing Littleton submarket with a functional environment for a higher quality of care.
Mineral Medical Plaza is 91% leased with 10+ years of weighted average lease term, secured by long-term commitments with leading providers in Colorado, including Colorado Eye Consultants, Rocky Mountain ENT, Colorado Retina and Mineral Surgery Center. The asset features 4.7 parking spaces per 1,000-square-feet and significant frontage and visibility along West Mineral Avenue.
“This building is in the path of growth in one of the most affluent submarkets of metro Denver and is directly across the street from the 63-acre Mineral Place redevelopment, which will be anchored by Costco,” said Bodnar, the vice chair of CBRE’s U.S. Healthcare Capital Markets practice. “The building is well-positioned to benefit from an increase in patient demand and should prove to be a great stable healthcare investment for the buyer.”
Mineral Medical Plaza is positioned in a strategic location in Littleton’s hub for outpatient care with excellent visibility and access. It offers significant frontage and visibility on West Mineral Avenue, one of the main connectors to Route 85, and is five minutes to C-470, which serves as one of the main connectors throughout the southern suburbs of Denver.
Broe Real Estate Group, an affiliate of The Broe Group, acquires, develops and manages commercial real estate assets. Affiliated companies own and manage office and industrial properties, medical office buildings, and multifamily communities across the country, including premier assets in many of the most desirable markets.
