820 Clermont St., a 14,560-square-foot medical office property at 820 Clermont St., one block south of the Rose Medical Campus in Denver, has sold for $2.16 million, according to a press release from Marcus & Millichap.
Enstad, Brandon Kramer, and Chadd Nelson, investment specialists in Marcus & Millichap’s Denver office, exclusively marketed the property on behalf of the seller, an owner-user, and procured the buyer, a group of private investors. The transaction closed all cash.
“Denver’s 10,000- to 20,000-square-foot medical office segment remains tight and supply-constrained, with low vacancy and continued rent growth,” said Erik Enstad, associate director investments. “Demand from expanding outpatient and specialty providers remains strong, particularly for properties near major healthcare campuses like this one.”
The property is one block south of Rose Medical Center/Rose Medical Campus and sits amid significant redevelopment in the surrounding area. The marketing specifically points to the redevelopment of the former VA Hospital and University of Colorado Teaching Hospital sites, as well as new multifamily and retail development nearby.
Built in 1971, the medical office property sits on 0.25 acres and features recent capital improvements, including newly completed spec suites. The property is zoned G-MX-3, allowing for a mix of office, medical and commercial uses, and includes 43 parking spaces (21 covered/underground and 22 surface spaces).
The new ownership plans to lease the property’s available space.
