12/31/2007

Grubb & Ellis acquires Denver medical plaza

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Grubb & Ellis Healthcare REIT has purchased the Highlands Ranch Healthcare Plaza in the Denver suburb of Highlands Ranch, Colo., for $14.5 million from BRCP Highlands Ranch, LLC.

Geoff Baukol of CB Richard Ellis' Denver office represented BRCP, which financed the acquisition through Wachovia Bank, National Association, LaSalle Bank National Association and KeyBank National Association.

The plaza contains two adjacent medical office buildings situated on seven acres. The three-story buildings contain roughly 80,000 square feet and are located at 200 and 206 West County Line Rd. Built in 1983, the 200 location contains 39,498 square feet while the 206 building was built in 1985 and contains 39,912 square feet. The plaza is currently 82 percent occupied by tenants including Littleton Pediatric Center, Family & Occupational Medicine and Vision Care Specialists, P.C.

Highlands Ranch is a 22,000-acre master-planned community located approximately 12 miles south of Denver.

Baukol is a senior associate with CBRE's Investment Properties Private Client Group in Denver. He began his career in 1998 with Grubb & Ellis where he specialized in institutional multi-family investment sales. He is a graduate of the University of Wisconsin.

Address: 200 and 206 West County Line Rd., Highlands Ranch, Colo.

Size: 80,000 square feet

Built: 1983, 1985

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Filed Under: Office

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