Flatirons Health Development Sells 43,391 SF Nursing Facility in Louisville

107 W. Century Drive, Louisville. Credit: Benchmark Commercia Real Estate.l

Benchmark Commercial Real Estate, Denver’s Exis Global partner, has completed the sale of a 48-bed, 43,391-square-foot skilled nursing facility located at 1107 W. Century Drive in Louisville. 

Benchmark Commercial’s Jaimee Keene represented the seller, Flatirons Health Development, LLC. The building was previously leased to Flatirons Health and Rehabilitation, operated by Wichita, Kansas-based Axiom Healthcare Services, which announced the closure of its Boulder County skilled nursing facility in January 2024. The property sold for $9,850,000 or $227/per square foot, well below the replacement cost for a new facility. The buyer is an owner user and intends to occupy the building with a use compatible with the existing configuration.

“We offered the property for sale at a very challenging time in 2023, in an environment of rising interest rates and challenging buyer sentiment,” said Jaimee Keene vice president of Benchmark Commercial Real Estate. “We pivoted the marketing strategy and the offering to match the shifting market expectations, and ended up with multiple offers, eventually selecting a cash buyer at a sale price above our initial asking price.”

The medical property is located just off US Highway 36, offering mountain views and access to the Davidson Mesa open space, and is strategically located 2.4 miles from the AdventHealth Avista Hospital and other major medical establishments. The 48-bed short-term rehabilitation facility was built in 2016 by Neenan Archistruction on a 2.6-acre site zoned P-C by the City of Louisville, within the Centennial Valley Business Park. Located in the strong demographic area of Boulder County, at the base of the Rocky Mountains, Louisville has appeared five times on Money Magazine’s list of “Best Places to Live.”

Headquartered in LoDo, Benchmark Commercial is a collaborative firm owned and operated by its principals providing leasing, advisory, commercial brokerage services, and positive results to owners and occupiers of office and industrial properties.

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