CBRE Announces Sale of Orchard Park Medical Center in Metro Denver

CBRE has announced the sale of Orchard Park Medical Center, a two-story, 75,605-square-foot medical office building in Westminster, Colorado, a suburb of Denver. An institutional fund based in Chicago purchased the building.

Chris Bodnar, Brannan Knott, Cole Reethof, and Trent Jemmett of CBRE’s U.S. Healthcare Capital Markets team, along with Dann Burke and Stephani Gaskins of CBRE Denver's Healthcare Leasing team, represented the seller, North Denver MOB LLC, an entity led by a group of physicians and Development Solutions Group.

“We were able to execute a complex sale which required physician re-investment on a tax deferred basis while navigating the volatility of interest rates,” said Mr. Bodnar, Vice Chairman and Head of U.S. Healthcare Capital Markets at CBRE. “This is a great outcome for both seller and buyer. Denver has long been a coveted healthcare real estate market, proven once again by the competitive bidding process we experienced with this transaction.”

Located at 14190 Orchard Pkwy. in Westminster, on the campus of CommonSpirit Health’s St. Anthony North Hospital, Orchard Park Medical Center was built in 2022 and was 93% leased at the time of sale. The medical facility is anchored by a state-of-the-art ambulatory surgery center leased to one of the most dominant orthopedic groups in Colorado, Panorama Orthopedics and Spine Center in partnership with CommonSpirit Health and United Surgical Partners International. It includes four operating rooms, two procedure rooms, and four 72-hour recovery beds. In addition to surgery, other specialties at the property include imaging, spine, orthopedics, cardiovascular, sleep, and prosthetics.