Doctor group buys medical office building
Last Updated: 16:10 September 26, 2013
Orthopedic Professional Association, rebranding as Boulder Bone and Joint, paid Dr. Scott Replogle $1.2 million for the 4,700-square-foot building. Replogle, a plastic surgeon, announced earlier this summer that he's downsizing his practice as he transitions to retirement, and he's now seeing patients only on Fridays at the Avista Office Building One in Louisville.
Broker Todd Walsh, of The Colorado Group, represented Replogle in the sale of the building, while Boulder Bone and Joint's owners were represented by their attorney.
Boulder Bone and Joint has offices in Boulder at 1155 Alpine Ave., in Boulder and on the Avista Adventist Hospital campus in Louisville. The group will move its Louisville practice into the building at 1032 S. 88th, just across the street from Avista's campus.
Dr. James Reid, one of the owners of Boulder Bone and Joint along with doctors Michael Wertz, David Grauer and Jordan Stoll, said the move in Louisville gives the group a better layout as it looks to expand the practice. The chance to buy its own real estate was also a perk.
"It's expensive to lease, and there was no option to own," Reid said of the Avista campus.
Boulder Bone and Joint's owners in the spring paid $605,000 for the shell of a 2,449-square-foot medical office condominium at 4820 Riverbend Road, across the street from the Boulder Community Hospital Foothills campus. Once build-out is complete, Boulder Bone and Joint will move its Boulder office there around Nov. 1 in preparation for Boulder Community moving its Broadway operations to the Foothills campus next year.
Reid said the group plans to sell its building at 1155 Alpine to Boulder Community Hospital. He said the move of the Louisville office will occur about mid-November.
More breaking news...
Dillard's 'price' case starts Wednesday
Vail Resorts reports loss for fiscal Q1
Business hall of fame seeking nominations
Each year the hall identifies five to eight businesspeople who exemplify business, cultural and philanthropic initiatives that