CentrePoint Sells Wilmore Center in Wheat Ridge to HCA HealthONE for $14.5M

CentrePoint Properties has closed the sale of Wilmore Center, a mixed-use property in Wheat Ridge, Colorado, to HCA HealthONE for $14.5 million. Jon Hendrickson and Aaron Johnson of Cushman & Wakefield represented the seller in the deal.

The site covers five acres at 7615 West 38th Avenue and includes two single-story, multi-tenant buildings with a combined 52,743 square feet and 236 parking spaces. At the time of sale, the property was 84 percent occupied by 15 tenants. The tenant mix includes retail, food service and medical users, and medical-related tenants account for 68 percent of the leased area.

The transaction shows a health system acquiring a multi-tenant asset in which medical users are the largest occupier group. For buyers and lenders, the heavy medical concentration, the 84 percent occupancy and the on-site parking supply are the key points to underwrite when valuing a mixed-use center with a healthcare-anchored rent roll.