The Partnership completed construction on Penrose Pavilion, a 4-story, 71,000 square foot medical office building (“MOB”). The project is located on the Penrose Hospital campus and is approximately two miles north of the Colorado Springs CBD. Penrose’s infill location prohibits future on-campus or close proximity MOB development. Westfield strives to invest in assets with true and sustainable competitive advantages. Demand for on-campus MOB space is increasing as medical practices strive to increase their efficiency and productivity. Furthermore, leading hospital chains like Centura are actively acquiring medical practices and require those medical practices to locate on-campus when possible.
On-Campus Hospital Location