Flagstaff MOB
Medical Properties Group, LLC
Flagstaff, Arizona
Medical Office Building
Although this project never closed or went to construction, it was a challenging project for RLS. Medical Properties Group, LLC asked RLS to conduct the due diligence and feasibility study on a parcel of land located in Flagstaff, Arizona for a medical office building. After much research, RLS determined that this developer would not be able to recoup the cost of constructing his building on this site because of its various challenges. These challenges included significant soil concerns, including very shallow and dipping bedrock, potential environmental challenges, water issues, protected trees located on the site and surrounding competitive development. At RLS’s suggestion, this developer and his attorney’s ultimately determined that this property was not a good investment and terminated the contract before closing.
9777 South Yosemite Building
Medical Properties Group, LLC
35,000 square foot existing office building
Lone Tree, Colorado
Closed April 2007
This property was a unique project for RLS because we are not traditionally involved in the purchase and sale of existing buildings. However, this developer chose to renovate and expand this building after his purchase. In conjunction with this developers attorneys, RLS assisted in the negotiation of the purchase contract, ordered and reviewed the title work, survey, building inspection and environmental studies for the property and worked with the legal counsel, brokers, sellers and various vendors to get this developer smoothly through closing. We assisted the developer in seeking proposals from various contractors and vendors to provide the necessary services to prepare the site for renovation and expansion and drafted and negotiated an appropriate development budget for the project.
Architects: Boulder Associates, Nick Rehnberg
