Denver-based real estate investment company BMC Investments (BMC) has begun construction on a 76,000-square-foot, six-story commercial building at 240 St Paul Street in Cherry Creek North. A yet to be announced, world class fitness club and popular fitness brand will anchor the new building, taking 33,000 square feet on the first three floors.
“Over the past two years, BMC has made St Paul Street one of Cherry Creek North’s most desirable streets with the opening of The St Paul Collection residences as well as new retail, restaurants and services like CB2, Sweet Green, SoulCycle and Le Bilboquet,” said Matt Joblon, CEO of BMC Investments. “With the addition of the new building at 240 St Paul, this street will become the most heavily trafficked pedestrian area in Cherry Creek.”
The site at 240 St Paul, which BMC purchased in January 2017, is 18,750 square feet with seven and five story zoning, but BMC will not maximize the buildable square footage by almost 20,000 square feet. The building will offer 64,000 square feet of office – all of which is leased with the exception of two 2,500-square-foot spaces – as well as 12,000 square feet of retail – almost half of which is already leased. There will also be over 200 parking spaces available in the two levels of below grade structure.
Open Studio is the architect and interior designer of the building. Construction is scheduled to last 14 months with an anticipated completion of early summer 2021. BMC is working closely with their contractor, GE Johnson, to minimize any and all disruptions to businesses and residents on St. Paul Street.
