FOR IMMEDIATE RELEASE
Denver – April 15, 2026 – CBRE is pleased to announce that it facilitated the sale of Cherry Creek Medical Pavilion, a 45,023-square-foot medical outpatient building (MOB) located at 155 S. Madison Street in Denver, Colorado, to SG Property Services.
Chris Bodnar, Brannan Knott, Zack Holderman, Anthony Sardo, Cole Reethof and Jesse Greshin of CBRE U.S. Healthcare Capital Markets partnered with Chad Flynn, Jenny Knowlton and Charley Will of CBRE’s Denver Institutional Properties team and Dann Burke and Stephani Gaskins of CBRE’s Denver Healthcare Leasing team to act as the exclusive advisors to the seller.
Cherry Creek Medical Pavilion is a multi-tenant MOB in the heart of Denver, located in the top submarket of Cherry Creek. Tenancy within Cherry Creek Medical Pavilion has transitioned in recent years to be primarily medical, with 58% of medical tenancy accounting for the asset’s 82% total occupancy. In 2020, the property underwent a major renovation that included a new modern lobby, common area upgrades and high-end spec suites, creating a Class A environment for tenants and an affluent patient base. Cherry Creek Medical Pavilion is less than two miles away from the 422-bed HCA HealthONE Rose, commonly referred to as “Rose Medical Center” and Denver’s “Baby Hospital.” The property is situated in a highly accessible location and proximate to four hospitals totaling 1,548 beds.
“It is exceptionally rare to find an MOB opportunity with this much upside in Cherry Creek, where only two other competitive facilities exist,” said Chris Bodnar, CBRE’s Vice Chairman of the U.S. Healthcare Capital Markets practice. “The buyer is well positioned to complete the full medical conversion and capture the submarket’s expanding need for future medical services.”
Cherry Creek Medical Pavilion is situated in Denver’s highly desirable demographic of Cherry Creek, where the average household income totals $232,000, 60% higher than the Denver MSA. Cherry Creek offers access to world-class shopping, including several lifestyle centers, providing a desirable healthcare experience for patients and a fully serviced work environment supporting the recruitment and retention of employees. The property offers immediate access to the 1.1 million square foot Cherry Creek Shopping Center with anchor tenants that include Nordstrom, Neiman Marcus, Restoration Hardware, Macy’s and Apple Store.
The purchaser, SG Property Services, is a vertically integrated real estate firm based in Atlanta, Georgia, specializing in healthcare-oriented real estate, including medical outpatient development, acquisitions, leasing and asset management across the United States. The firm has acquired over three million square feet across the U.S. since it was founded in 2010, and this acquisition continues their portfolio growth in the Denver MSA. To learn more, visit: www.sgpropertyservicesllc.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, digital infrastructure services); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at www.cbre.com.
Contact:
Olivia Vallone
+1 847 691 9144
Olivia.Vallone@cbre.com
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