1. JULY 16, 2014 – AUGUST 5, 2014
As appeared in…
www.crej.com
by Jill Jamieson-Nichols
Medical office buildings in
Parker and Colorado Springs
sold in unrelated transactions,
and a new medical building is
under way in Monument.
The Colorado Springs trans-
action centered on Southpointe
Office/Medical Building, a
23,199-square-foot building at
630 Southpointe Court. The
property is located just east of
the Broadmoor Hotel.
BK-630 LLC, a Colorado
Springs group, sold the two-
story building to Four Small
Fries, a California group mak-
ing its first acquisition in Colo-
rado. The price was $3.2 mil-
lion, or $198 per sf.
The building was 95 percent
occupied at the time of the sale
with tenants including Maxim
Healthcare Services, Biggs/
Kofford and LPL Financial.
The Sperry Van Ness team of
Troy Meyer, Dean Corey and
Kevin Matthews represented
the seller.
“Within a few days of begin-
ning our marketing process,
we received this successful
offer, which demonstrates the
demand for quality commer-
cial real estate in Colorado,”
said Meyer. “The buyer used
this purchase as part of his
down leg in a 1031 exchange
and was attracted to the build-
ing because of the location,
excellent previous manage-
ment/condition and occupan-
cy,” he said.
Southpointe Office/Medical
Building was constructed in
1987 and 2002.
Parker Square Medical Cen-
ter at 19641 Parker Square
Drive sold for $2.1 million.
Nalu LLC, a Honolulu
investment group, purchased
the property from Parker
Square Medical Center LLC.
The building has two major
tenants – Parker Square
Urgent Care and Aspen Creek
Family Medicine – that occu-
py approximately half of the
space.
The build-
ing was
83 percent
occupied at
the time of
the sale.
C y n d i
Stringham of
Health Con-
nect Proper-
ties said the
building, “with a little fixing
up,” presents the opportunity
to add value through lease-up
and increased rents.
Stringham and Patricia Was-
sik of Health Connect Proper-
ties represented the seller. Matt
Call and John Witt of NavPoint
Real Estate Group represented
the buyer.
Parker Square Medical Cen-
ter was built in 1984.
In Monument, the Medical
Center IV at Monument LLLP
paid $775,000 for 2.28 acres of
land that will be used for con-
struction of a 15,800-sf medical
office building. The building
will be occupied by Colorado
Springs Health Partners and
will replace a current, smaller
facility the practice occupies in
Monument, said Jim Dibiase of
Olive Real Estate Group, who
represented the buyer.
Andrew Oyler and Dale
Stamp of Quantum Commer-
cial Group Inc. were the listing
brokers. Creekside Developers
Inc. sold the property.s
Medical bldgs. in Colorado Springs,
Parker change hands
Parker Square Medical Center traded at $2.1 million.
Cyndi Stringham