Medical group pays $3.3M for Loveland office building

LOVELAND — Front Range Medical Holdings LLC has purchased a building in the Foxtrail Office Park in Loveland for $3.3 million, which it will use for doctors’ offices.

Denver-based Regis University, which has been leasing space in the building at 1605 Foxtrail Drive for its campus in Loveland, will move those operations to a new location, according to Ron Kuehl of Realtec Commercial Real Estate Services, who brokered the deal on behalf of the seller.

The holding company paid $265 per square foot for the 12,382-square-foot building owned by N2 Partnerhips, a group made of Colorado and Montana investors.

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Front Range Medical Holdings LLC plans to develop the building for its own use and possibly offer space for lease on the second floor, Kuehl said.

Front Range Medical Holdings was formed by Dr. George Girardi of Fort Collins, according to Secretary of State records. It operates Front Range Pain Medicine at offices in Fort Collins, Greeley and Cheyenne, Wyo. Girardi could not be reached for comment Tuesday on what type of services will be offered in Loveland.

Foxtrail Office Park has four Class A office buildings with 20 tenants occupying 94 percent of the space. The park was developed by Loveland-based McWhinney Enterprises in 2005.

Kuehl said the ownership group had no intention of selling the building, “but we were approached by a user with an offer that we could not turn down.” Kuehl said. “This is the tenth property I’ve sold within the Foxtrail Office Park, and the price was reflective of the high demand for quality real estate in Northern Colorado.”