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June 25, 2024
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Investor Pays $427/sf for Colorado Medical Office Building


Park Meadows Medical Center, a multi-tenant, 34.7k sf medical office building with a surgery center in Lone Tree, CO, sold for $14.8 mil ($427/sf) in an off-market transaction.

Located at 9218 Kimmer Dr, the three-story building was 100% leased at time of sale to a variety of medical users and practitioners. Lone Tree is situated in the southern Denver Metro approximately 20 miles from downtown Denver. The city is located along the Light Rail at Lincoln Station (the last stop south).

The buyer was HR Assets LLC. William Lucas, Stuart Thomas and Doug Wulf with Cushman & Wakefield’s Denver office represented the seller, Park Meadows Medical LLC, in the transaction.

“This property is very well positioned in a desired professional area that is right off S Yosemite St near the Interstate 25 and E-470 interchange, with high traffic counts. The location is also surrounded by strong residential neighborhoods and an abundance of retail amenities,” said Lucas. “Medical space remains in high demand in the Denver Metro area, which made this asset all the more attractive for an investor.”

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