{"id":1004734817,"date":"2024-10-30T02:18:33","date_gmt":"2024-10-30T10:18:33","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004734817"},"modified":"2024-10-30T05:15:21","modified_gmt":"2024-10-30T13:15:21","slug":"nexcore-group-partnership-debuts-mob-facility","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nexcore-group-partnership-debuts-mob-facility\/","title":{"rendered":"NexCore Group Partnership Debuts MOB Facility"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/DSC_2360copy-1.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1597\" height=\"1198\" data-attachment-id=\"1004734819\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/nexcore-group-partnership-debuts-mob-facility\/dsc_2360copy-1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/DSC_2360copy-1.jpg\" data-orig-size=\"1597,1198\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"NexCore-Intermountain-Health-Nuveen-MOB\" data-image-description=\"&lt;p&gt;Property at 12905 W. 40th Ave, Wheat Ridge, Colo.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The official ribbon-cutting ceremony was held earlier this month. Image courtesy of NexCore Group&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/DSC_2360copy-1.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/DSC_2360copy-1.jpg\" alt=\"Picture depicting the official opening ceremony of the Lutheran Medical Office Building in Wheat Ridge, Colo.\" class=\"wp-image-1004734819\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/DSC_2360copy-1.jpg 1597w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/DSC_2360copy-1.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/DSC_2360copy-1.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/DSC_2360copy-1.jpg?resize=1024,768 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/DSC_2360copy-1.jpg?resize=1536,1152 1536w\" sizes=\"auto, (max-width: 1597px) 100vw, 1597px\" \/><\/a><figcaption class=\"wp-element-caption\">The official ribbon-cutting ceremony was held earlier this month. <em>Image courtesy of NexCore Group<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>A partnership of NexCore Group, Intermountain Health and Nuveen has officially opened the Lutheran Medical Office Building, a 138,000-square-foot medical outpatient building in Englewood, Colo.<\/p>\n\n\n\n<p>The development team included Davis Partnership Architects, which provided design services, and Saunders Construction as general contractor. Martin Consulting Engineers and Cator, Ruma &amp; Associates served as civil and electrical engineers, respectively. Construction began in December 2022.<\/p>\n\n\n\n<p>Davis Partnership also provided architectural services for the partnership\u2019s Aurora East Crossroads, an 85,000-square-foot medical office building in Aurora, Colo. The MOB <a href=\"https:\/\/www.commercialsearch.com\/news\/nexcore-group-jv-opens-denver-mob\/\">debuted this August<\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/outpatient-facilities-step-into-the-spotlight\/\">Outpatient Facilities Step Into the Spotlight<\/a> <\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The Lutheran Medical Office Building rises five stories or 87 feet. Its primary entry, facing westward, features a vehicular pull-out for patient drop. Its southside includes a pick-up point for surgery patients.<\/p>\n\n\n\n<p>Intermountain Health provides medical services such as cardiovascular care and cardiac rehabilitation, neurology and neurosurgery, maternal and fetal medicine, as well as a sleep lab and orthopedics, among others.<\/p>\n\n\n\n<p>The facility <a href=\"https:\/\/www.commercialsearch.com\/blog\/medical-office-building-report-construction-inventory\/\" target=\"_blank\" rel=\"noreferrer noopener\">ranked 11th<\/a> in <em>Commercial Search\u2019s <\/em>Top 20 Largest Medical Office Buildings to Be Completed in 2024. UW Health\u2019s 439,000-square-foot project dubbed The Eastpark Medical Center took the crown. The Madison, Wis., property was slated for delivery in the third quarter.<\/p>\n\n\n\n<p>Located on 28 acres at 12905 W. 40th Ave., the Lutheran Medical Office Building is less than 1 mile from Interstate 70, while downtown Denver is about 15 miles southeast. Numerous lakes, retail facilities and parks can be found within walking distance.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-relocation-of-a-100-acre-medical-campus\">The relocation of a 100-acre medical campus<\/h2>\n\n\n\n<p>The MOB is part of the Lutheran Medical Center Campus, which also includes a hospital and a pedestrian bridge that connects the duo. The entire campus alongside the hospital\u2014which had served Wheat Ridge for over a century\u2014recently relocated.<\/p>\n\n\n\n<p>Its current position is less than 4 miles from its prior placement. The previous campus sprawled roughly 100 acres and with its relocation, a master redevelopment plan emerged. As of 2021, the new vision included a mixed-use development in the former campus\u2019 center, as well as buffer and transitional areas toward the edges.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-medical-office-deliveries-expected-to-drop\">Medical Office deliveries expected to drop<\/h2>\n\n\n\n<p>At a national level, roughly 10 million square feet of medical office product is slated for delivery this year\u2014a decline from 2023\u2019s figure of 12.5 million square feet\u2014according to a <a href=\"https:\/\/www.commercialsearch.com\/news\/houston-a-bright-spot-among-slowing-medical-office-sector\/\">report by Marcus &amp; Millichap<\/a>. However, this drop in completions will temper the sector\u2019s rise in vacancy as the rate is estimated to inch up by 30 basis points in 2024.<\/p>\n\n\n\n<p>Given the fluctuating nature of <a href=\"https:\/\/www.commercialsearch.com\/news\/is-the-rise-in-construction-costs-decelerating\/\">costs related to development<\/a>, labor and capital, MOB construction starts may remain tepid going forward, Marcus &amp; Millichap\u2019s report shows. To offset expenses, developers could eye traditional office conversion projects.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The project is part of a larger campus that includes a hospital.<\/p>\n","protected":false},"author":3471,"featured_media":1004734819,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1587,21782,21754,21742,15],"tags":[36278,34722,37491],"class_list":["post-1004734817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-denver","category-development","category-medical-office","category-latest","category-west","tag-medical-office-building","tag-nexcore-group","tag-nuveen"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NexCore Group Partnership Debuts MOB Facility - 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