Holliday Fenoglio Fowler, L.P. (“HFF”) has been retained on an exclusive basis with respect to the disposition of the Union Medical Office Portfolio (the “Properties” or the “Portfolio”), located in Colorado Springs, Colorado. The Properties are strategically situated in a medical office oriented business park featuring three buildings totaling 151,299 square feet that are 88% leased in the aggregate and anchored by Colorado Springs Health Partners (“CSHP”), a wholly-owned division of DaVita Healthcare Partners (Moody’s Ba3), which occupies 57% of the GLA. The Properties, situated in a strong commercial area with heavy medical retail concentrations, have upside potential by leasing the available space to new and existing tenants.
The Portfolio consists of three buildings including 1625 Medical Center Point, which is 70,045 square feet and 84% leased to nine (9) different medical tenants. Of these nine tenants, CSHP is the largest tenant by footprint and leases 51% of the GLA. 1633 Medical Center Point is 50,254 square feet and 100% leased to CSHP. 1644 Medical Center Point is 31,000 square feet and 78% leased to two tenants with approximately 12 years of remaining lease term.
The Properties are owned fee simple and are being offered free and clear of debt.
Execute Confidentiality Agreement
Investment Contacts
Phil Mahler
Managing Director
312.300.7319
pmahler@hfflp.com
Jules Sherwood
Managing Director
720.744.2701
jsherwood@hfflp.com
CO Lic. #: ER.100035304
Matthew DiCesare
Analyst
312.300.7305
mdicesare@hfflp.com
Financing
Brock Yaffe
Associate Director
303.515.8034
byaffe@hfflp.com
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