This Week's Denver Deal Sheet

Another new office building is coming to Cherry Creek North. BMC Investments will develop Milwaukee Place, a new 100K SF, seven-story Class-A office project at 242 Milwaukee St. 

Milwaukee Place will offer 90K SF of office and 10K SF of ground-floor retail and is BMC’s 10th project in the neighborhood. The design team is led by 4240 Architecture. The builder is Haselden Construction. A groundbreaking is scheduled for the first quarter of 2023 with anticipated completion in the fourth quarter of 2024. 

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PEOPLE

Cole Chandler, co-founder and executive director at Colorado Village Collaborative, joined the Colorado Department of Human Services as its first director of homelessness initiatives. The new position will focus on the prevention of homelessness, according to a news release.

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Angela Feddersen has been hired to lead St. Louis-based HDA’s new Denver office located at 1212 South Broadway.

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Goettsch Partners, a Chicago-based architecture firm, opened a new office in the Triangle Building in LoDo, hiring Charles W. Wittleder as associate principal. Goettsch Partners is the architect for the new 30-story, 700K SF 1900 Lawrence office tower, which broke ground in April.

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SALES

Blue West Capital completed the sale of a new retail center located at 17101 South Golden Road in Golden, Colorado, for $4M. The property is 100% leased. Zach Wright of Blue West Capital represented the purchaser in the off-market transaction. The purchaser was a private Colorado-based family, and the seller was a Denver-based developer.

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CONSTRUCTION AND DEVELOPMENT 

Back in Cherry Creek, 200 Clayton St. topped out last week. The 76K SF project is the first phase of Broe Real Estate Group’s planned Clayton Street Redevelopment. Beck Group is the designer and GH Phipps is the general contractor.  

FINANCING

Granite Properties closed a joint venture equity deal with Long Wharf Capital for First Avenue Plaza, a two-building office complex spanning an entire block in Cherry Creek including 44 Cook St., a 10-story, Class-A, 127K SF building and 55 Madison St., an eight-story, Class-A, 137K SF building. Long Wharf now owns a 50% interest in the property, which Granite purchased earlier this year. Long Wharf Managing Directors Justin Smith, Director David Stein and Senior Associate Samantha Torto represented the firm in the deal. Granite Senior Managing Director Stephanie Lawrence and Chief Financial Officer Ace Roman represented their company. JLL advised on the joint venture transaction, represented by Trey Morsbach and Jim Curtin. 

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Walker & Dunlop recently announced the completion of financing for Parkside, a 132-unit multifamily complex located in northwest Denver. The Walker & Dunlop team was led by Dan Woodward, David Potarf, Matt Barnett and Jake Young. 

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THIS AND THAT

ULI Colorado is accepting applications for Development 360, a hands-on real estate development course for ULI Young Leaders (35 and under). The program provides an in-depth case study of The Victor, Generation Development’s apartment project in City Park West. Applications close Aug. 19.