Last, Large Developable Parcel in Cherry Creek North Sells for $12M
BMC Investments (BMC), a Denver-based real estate investment company, has acquired 235 Fillmore Street, one of the last large, developable parcels in Cherry Creek North, for $12 million. Currently a parking lot, the parcel at 235 Fillmore has a 19,000-square-foot surface area on Fillmore Street and another 3,250 on Detroit Street for a total of 22,250 square feet. The Fillmore site has the potential for a 100,000-square-foot building.
Still in the design stage, the project at 235 Fillmore will be the latest of many investments BMC has made in Cherry Creek North including Steele Creek, St Paul Collection, Halcyon and Moxy Hotels and the recently completed Financial House.
“The property at 235 Fillmore is one of the last large developable parcels in the Cherry Creek North neighborhood and has a central location that is second to none,” said Matt Joblon, chief executive officer of BMC Investments. “BMC truly believes that Cherry Creek North is the premier destination in Denver for both locals and visitors and we are committed to maintaining the authenticity of the community while meeting its future needs both from a commercial, residential and retail perspective.”
BMC is actively working on a business plan for the property, which will include a yet-to-be-determined mix of uses such as retail, rental residences and office space. It could end up being all office, given the high demand for large office space in Cherry Creek North, as demonstrated by the fact that BMC’s Financial House was 100 percent preleased without any broker representation.
“We’ve brought some incredible retail to Cherry Creek North in recent years including Matsuhisa, Quality Italian, CB2, SoulCycle, and the soon-to-open Le Bilboquet,” said Joblon. “We are excited for the opportunity to source additional retail that complements – and enhances – the fabric of the Cherry Creek North community.”
Until a business plan is determined, the space will serve as parking for construction workers, aimed at keeping them off the street meters and the residential neighborhoods.