DENVER, CO – [October 19, 2022] – Blue West Capital has completed the sale of the single tenant net lease HealthONE medical office building located at 10405 Martin Luther King Jr Blvd in Denver, CO for $6,625,000. The property received numerous offers and sold within 37 days of a signed listing agreement.
This is the fourth net lease property Blue West Capital has sold in Central Park within the past two years. Central Park, formerly Stapleton, is an affluent and rapidly expanding neighborhood in Denver.
Robert Edwards and Tom Ethington, of Blue West Capital, exclusively represented the seller in the transaction. A national developer based in the Southwest. The buyer was an all-cash 1031 exchange buyer based in Northern California.
The recently constructed building is 9,148 square feet and adjacent to the Eastbridge Town Center, a premier boutique shopping district in Central Park comprised of highly desirable and profitable restaurants and retailers. A high-volume King Soopers is also located directly across the street. The surrounding area is densely populated with over 147,000 residents within three miles radius and has an exceptionally high average household income of $160,000 within one mile.
HealthONE is a wholly-owned subsidiary of HCA Healthcare, a publicly traded company (NYSE: HCA) with a $60 billion market capitalization. HCA Healthcare has an investment grade credit rating (S&P: BBB-). Medical services offered at the property include comprehensive primary care, breast screening, diagnostic 3D mammography, breast ultrasound, stereotactic breast biopsy, bone density scanning, and obstetric care.
“It was a quick all cash deal that only required twenty days to close. We received immense buyer interest from across the country due to the asset’s Central Denver infill location and investment grade credit,” stated Robert Edwards, Managing Partner. “Despite the challenges facing the single tenant net lease market, we continue to see high investor demand for properties with strong credit located in the Denver MSA as evidenced by this sale,” stated Edwards.
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