Four-story office building breaks ground in Cherry Creek
There are now four office buildings under construction in Cherry Creek.
Chicago-based Midwest Property Group broke ground on the latest, at the northeast corner of Fillmore Street and 3rd Avenue, last week.
The four-story Fillmore @ Third building at 320 Fillmore St. will have 10,000 square feet of retail space on the ground floor, and 50,000 square feet of office space above, according to JLL broker Jamie Roupp, who is marketing the property.
The third and fourth floors will feature balconies, and there will be a rooftop deck, Roupp said. There will be two levels of underground parking.
“The location is really its prime attribute,” Roupp said.
Office leasing activity in Cherry Creek has surged coming out of the pandemic, with some firms coming from a downtown that has struggled to return to its pre-COVID vibrancy.
The three other office projects under construction in the neighborhood — Broe Real Estate Group’s 200 Clayton, BMC Investments’ 255 Fillmore and Elevation and Edgemark’s project at 3rd and University — all broke ground with at least some committed tenants.
Roupp said Fillmore @ Third — which is the smallest of the four projects — doesn’t have any signed leases, but he doesn’t expect availability to last.
“We anticipate that it will be fully leased by the time it delivers,” Roupp said, adding completion is expected in the fourth quarter of 2023.
This is the first development project in Denver for Midwest Property Group, which is led by Jay Javors. Midwest purchased the 0.43-acre parcel, previously home to buildings with about 10,000 square feet of retail space, in August 2021 for $9 million. Midwest founder Jay Javors deferred comment to Roupp.
Fillmore @ Third was designed by 4240 Architecture. Haselden Construction is the general contractor.
Roupp and fellow JLL colleagues John Beason and Bo Pitto are marketing the building’s office space. Zall Co. brokers Stuart Zall and Kyle Framson are marketing the retail space.