DENVER – October 14, 2019 – Broe Real Estate Group (BREG), a private real estate investment firm and affiliate of The Broe Group, headquartered in Denver, CO, confirmed the acquisition of a 41,030 square foot office building located on 4.66 acres at 1501 W. Mineral, Littleton, Colo.
Constructed in 1999, the two-story multi-specialty building located in Douglas County is the ideal candidate for conversion, given its highly visible location and proximity within the sub-market. BREG will undertake significant capital investments to convert the previously zoned office building into a medical office facility equipped to serve the area’s growing need for medical services. Douglas County’s 19.4% growth since 2010 has outpaced all metro Denver area counties, creating increased consumer medical need.
“The Mineral acquisition offers the opportunity to repurpose a high quality asset into an institutional quality medical space that addresses the area’s continuing need for non-hospital medical services,” says BREG CEO Doug Wells. “Our team is actively pursuing medical tenants to serve the community’s growing needs.”
The Mineral project is BREG’s fifth transaction supporting MOB repositioning project in the past twelve months totaling nearly 600,000 square feet.
Jeff Wood and Monica Wiley from CBRE listed the property for sale on behalf of WorldVenture, which operated its headquarters at the site for nearly 20 years.
“1501 West Mineral is a highly visible building with excellent access to nearby retail amenities and medical services. Demand for high quality, well-located healthcare options in Douglas County continues to outpace supply, which has been limited in part by rising construction costs,” noted Jeff Wood, CBRE.
Jeffrey Wood and Monica Wiley from CBRE listed the property for sale.
About Broe Real Estate Group
Broe Real Estate Group, an affiliate of The Broe Group, acquires, develops and manages commercial real estate assets. Affiliated companies own and manage office and industrial properties, medical office buildings and multi-family communities across the country, including premier assets in many of the most desirable markets. The Broe Group has a 50-year history of value-add real estate investing in Colorado and across the United States. We improve value though the implementation of focused business plans that increase cash flow and create stable income streams. For more information, visit broerealestate.com.
About OmniTRAX, Inc.
As one of North America’s largest and fastest growing private railroad and transportation management companies, OmniTRAX’s core capabilities range from providing transportation and supply chain management services to railroad and port companies, to providing intermodal and industrial switching operations to railroads, ports and a diverse group of industrial companies. Through its affiliation with The Broe Group and its portfolio of managed companies, OmniTRAX also has the unique capability of offering specialized industrial development and real estate solutions, both on and off the rail network managed by OmniTRAX. More information is available at omnitrax.com.
About The Broe Group
Founded in 1972, The Broe Group is a private, multi-billion-dollar investment group with diversified holdings in real estate, rail, infrastructure, energy, agriculture, water, healthcare and technology throughout 37 North American states and provinces. Its deep operational knowledge derived from owning and operating multi-billion-dollar businesses and the global economic insights gleaned from serving its vast Fortune 500 clientele are strategic differentiators. The Broe Group’s entrepreneurial focus enables it to find true value wherever it resides. For more information, visit broe.com.
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