Denver-based developer BMC Investments and Bow River Capital Partners will build an eight-story, 70,000-square-foot office building with 5,000 square feet of retail at Second Avenue and Detroit Street in Cherry Creek North. The project will cost an estimated $37.5 million.
The two companies purchased a building at 2727 E. Second Ave. for $7.35 million with plans to redevelop the property beginning with a groundbreaking in August 2017.
BMC has purchased five other properties in Cherry Creek North since 2012 and is building a $35 million Marriott Moxy hotel and an apartment project in Cherry Creek North.
“There are so many great things going on in Cherry Creek that our belief in the neighborhood now and over the long-term continues to grow rapidly,” said Matt Joblon, CEO of BMC Investments. “The ability to acquire one of the best locations within Cherry Creek to build a new standard-setting mixed-use project that we can own long-term aligns perfectly with our business plan.”
There is not an estimated completion time for the project, but once it’s finished, BMC and Bow River will both move their headquarters into the space. With those two companies slated to take up about 20,000 combined, 50,000 square feet of office space will still be available for lease, as well as the 5,000 square feet of retail. Haselden Construction and 4240 Architects will design and build the project.
“The development presents a tremendous opportunity to establish Bow River Capital Partners’ corporate headquarters alongside other successful financiers in the vibrant and energetic Cherry Creek North,” said Blair Richardson, CEO of Bow River Capital.