AdventHealth Buys 44 Acres in Denver Suburb

Nonprofit healthcare system AdventHealth is adding to its real estate holdings in Denver’s fast-growing suburbs.

The Florida-based company bought 44 acres next to its hospital in Parker as healthcare providers race to keep pace with population growth along the metro’s outer edges, the Denver Business Journal reported. AdventHealth paid $16.5 million for the land, at the northwest corner of Crown Crest Boulevard and East Pine Lane. The seller is Bowey Family Partnership LLLP.

The price amounts to $375,000 per acre.

The parcel is south of AdventHealth Parker at 9395 Crown Crest Boulevard, where the health system is in the middle of a major expansion. Earlier this year, AdventHealth broke ground on a $300 million seven-story building expected to add 186,000 square feet to the hospital’s footprint when it opens next year.

AdventHealth hasn’t disclosed specific plans for the land acquisition.

Parker hospital isn’t the only place it’s plotting expansions in the Denver area.

In Broomfield, the provider recently submitted plans for a hospital and medical office project on a 43.6-acre site in the city’s northern corridor. That proposal would place AdventHealth near a planned UCHealth campus on roughly 110 acres formerly owned by IKEA, setting up a potential healthcare development rivalry in one of the region’s largest remaining suburban growth zones.

AdventHealth operates 57 hospitals and roughly 2,000 care sites across nine states, serving about 4 million patients last year.

In other healthcare real estate moves in the past year, Centennial-based E5X Management bought the 92 acres of land that once housed the Intermountain Health Lutheran Hospital in Wheat Ridge for $60 million in December. E5X plans to develop 1,200 to 1,500 residential units at the site. Last year, the Wheat Ridge City Council approved mixed-use zoning for the site.

— Chris Malone Méndez