UC Health has bought another property next to its Cherry Creek Medical Center. (Google Maps)
A Cherry Creek restaurant and boutique liquor store have a new landlord: the hospital next door.
UCHealth purchased a small retail building on a 6,250-square-foot lot at 101 Madison St. and 3435 E. First Ave. for $3.8 million last week, which works out to $608 a foot. The property houses the restaurant 101 Asian Fusion as well as Blend Beer Wine and Spirits.
The lot is next door to UCHealth’s Cherry Creek Medical Center at 100 Cook St.
A UCHealth spokeswoman said the group had “no specific plans at this time.” But the health care system is clearly preparing for potential future development.
UC Health now controls about three-fourths of an acre along Madison Street next to its existing facility. It’s spent $13 million in the past six years on the land. Prior to the latest buy, the system’s most recent deal was in March: $3 million for the office building at 131 Madison St.
The health care system now controls half of the block between Cook and Madison Streets..
Both the restaurant and liquor store have several years left on their leases, employees for the establishments told BusinessDen. The Asian restaurant has been there since at least 2007, according to Google Maps data.
UC Health has bought another property next to its Cherry Creek Medical Center. (Google Maps)
A Cherry Creek restaurant and boutique liquor store have a new landlord: the hospital next door.
UCHealth purchased a small retail building on a 6,250-square-foot lot at 101 Madison St. and 3435 E. First Ave. for $3.8 million last week, which works out to $608 a foot. The property houses the restaurant 101 Asian Fusion as well as Blend Beer Wine and Spirits.
The lot is next door to UCHealth’s Cherry Creek Medical Center at 100 Cook St.
A UCHealth spokeswoman said the group had “no specific plans at this time.” But the health care system is clearly preparing for potential future development.
UC Health now controls about three-fourths of an acre along Madison Street next to its existing facility. It’s spent $13 million in the past six years on the land. Prior to the latest buy, the system’s most recent deal was in March: $3 million for the office building at 131 Madison St.
The health care system now controls half of the block between Cook and Madison Streets..
Both the restaurant and liquor store have several years left on their leases, employees for the establishments told BusinessDen. The Asian restaurant has been there since at least 2007, according to Google Maps data.
