BOULDER — A dermatologist from Hawaii has paid $1.4 million for a medical building in Boulder.
Dr. Kevin Mott bought a 8,515-square-foot building at 905 Alpine St. from Boulder Community Hospital. He will use about 5,000 square feet for his practice and plans to lease the remaining 3,500 square feet.
Mott specializes in Mohs surgery, a technique that removes skin cancer with minimal damage to surrounding tissue.
“Dr. Mott had been looking to lease space, but there were not many choices,” said Jason Kruse, principal/managing broker at the Colorado Group. “With interest rates low, it made it compelling to purchase. The lack of suitable inventory made it a little bit of a challenge, but this property is a great value for them,” said Kruse, who represented Mott in the transaction.
Tom Hill and Eric Rutherford with Wright Kingdom Real Estate represented Boulder Community Hospital. Financing is being provided by Wells Fargo.