Office

Highlands Ranch I & II

630 Plaza Dr, Highlands Ranch, CO, 80129-2379, US

Executive Summarydownload
Highlands Ranch I & II_Property for Sale

Gallery

Highlands Ranch I & II 2_Property for Sale

Asset description

Jones Lang LaSalle Americas, Inc. is pleased to offer for acquisition Highlands Ranch I & II (the “Property”), a two-building, 153,585 square foot Class A medical & office campus located in Highlands Ranch, CO. Driven by the Property’s close proximity to UCHealth Highlands Ranch and Children’s Hospital South Campus, the Property has experienced a prominent shift from traditional office to medical tenancy over the past two years.


Currently, the Property is 70.8% leased with 23% of the RBA being healthcare focused. The Property has experienced significant healthcare leasing activity recently with ~21,000 SF of medical leases signed over the last ten months which sets the stage for a full medical office conversion. Given the fact that medical office rents are approximately 20-25% higher than traditional office in this submarket, Highlands Ranch I & II provides investors an unmatched opportunity to increase occupancy and rents across the remainder of the campus. There is a strategic path via lease up and rollover to ultimately achieve 84%+ medical office tenancy over a five-year hold.

Attributes

Building area Net
153,585 sf
Occupancy
71.00%
Year built
2000

Investment highlights

  • Premier Denver Healthcare Ecosystem
  • +84% Medical Office Conversion Potential
  • Class A Office with Attributes for Medical Office
  • Recent Medical Leasing Provides Proof of Concept 
  • Superb Demographics for Medical Tenancy
  • Unmatched Accessibility Attracts MOB Users 

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Last updated
Oct 27, 2022