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March 20, 2019
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New CO Health and Wellness Facility Completed

1/07/19

Work has been completed on Superior Medical Center (SMC), a four-story, 60k sf destination health and wellness facility in Superior, CO, a northwest Denver suburb. The project, developed by PMB, includes a 229-space parking structure connected to SMC by a pedestrian bridge.

Photo: Kevin Korzyck
Photo: Kevin Korzyck
SMC is a component of Downtown Superior, located at the southeast corner of US Highway 36 and McCaslin Blvd. Downtown Superior is a 157-acre, master-planned community providing an active downtown experience, exciting dining options, sporting events, outdoor recreation, and live entertainment. Downtown Superior is anchored by The Sports Stable, a 150k sf indoor sports facility with 2 1-2 indoor hockey rinks and three indoor soccer fields.

The concept of SMC was initiated by Cornerstone Orthopedics in recognition of the need for a destination health and wellness facility to provide synergistic medical services to the nearby sports-affiliated facilities and local community. Cornerstone committed early to be an anchor tenant of the planned SMC and partnered with Sawtooth Development on the projectís initial development. After working on SMCís entitlement, Sawtooth Development sought a healthcare development partner to finalize SMCís equity, debt, construction guarantees, and leasing.

The project broke ground in April 2017 and wrapped up on time and on budget in February 2018. Denver-based DSP Builders Inc provided general contracting services and Intergroup Architects, based in Littleton, CO, served as project architect. The project was delivered under an open book design/build GMP methodology. The project team quickly built a strong rapport and working relationship that has led them to look at other development opportunities in the greater Denver area.

PMB was attracted by the projectís location in Boulder County, current synergies among existing tenants, strong demographics and substantial economic upside. SMC also benefits from Downtown Superiorís ease of access from US Highway 36 and terrific freeway visibility.

SMC represents PMBís first ground-up development project in the Denver Metro market and represents another PMB project as part of a mixed-use master plan, a growing trend in healthcare provision nationwide. The project was a deal negotiated with Harrison Street Real Estate REIT, a new capital source for PMB, which set the framework for additional projects. PMB worked with the master developer and the local metro parking district to create a parking solution that took advantage of the projectís off-hours parking availability to address a local bond mandate for structured parking. And SMCís shell and core were constructed by DSP Builders in 10 short months, overcoming the often unpredictable weather in the Boulder County/Denver area.

The multi-tenant building is currently occupied by Boulder Community Health (BCH), Touchstone Imaging and Cornerstone Orthopedics & Sports Medicine. BCH offers urgent and family-care services. Touchstone Imaging brings x-ray, MRI and CT imaging services.

Cornerstone Orthopedics & Sports Medicine, Superior Medical Centerís first user, has created a sports rehab and orthopedic center of excellence. These services support the needs of not only the local community but also the adjacent Sports Training Facility to create a true destination health and wellness location. In addition, SCL Health has signed a 15k sf lease to bring primary care and womenís health services to Superior in the spring of 2019. This lease brings the buildingís occupancy to 70%, with only one full floor now available for lease.

PMB Real Estate Services is handling property management. John Gustafson of Newmark Grubb Knight Frank is handling leasing.





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