Fidelis Healthcare Completes Denver MOB

Saint Joseph Medical Office Pavilion. Image courtesy of Fidelis Healthcare Partners

Fidelis Healthcare Partners and SCL Health have delivered Saint Joseph Medical Office Pavilion, a 98,000-square-foot project in Denver. Construction on the property, situated on the southwestern edge of Saint Joseph Hospital’s campus, began in June 2019. Zions Bank provided $23.9 million in development financing for the project, according to Yardi Matrix.

Located at 1818 Ogden St., in the city’s Five Points neighborhood, the five-story building has three floors of medical space above 10,000 square feet of shopping and dining space. Property amenities include a 10,000-square-foot rooftop deck with patios and a parking ratio of 3.5 spaces per 1,000 square feet. Covered physician parking is located within the first floor. The property is 1 mile east of downtown Denver.

Fidelis Chief Information Officer Mark Allyn said in prepared remarks that two medical office leases have already been signed. CBRE’s Dann Burke is leading the medical office leasing team, and Legend Retail Group is marketing the building’s retail component.

The development team included Boulder Associates as the project architect and general contractor Saunders Construction. Wellspring Consulting was the construction manager.

Even as virtual health-care services have seen major growth this year, in-person outpatient needs have also increased. Despite challenges, demand for physical medical office space is likely to continue growing due to several factors, a recent Marcus & Millichap report highlighted.