$200M Cherry Creek North Redevelopment Begins Phase 2
The Broe Group is starting construction on Phase 2 of its $200M Cherry Creek North redevelopment, which will bring the area’s largest office floor plates to the market.
The eight-story, Class-A office building will be the new headquarters for The Broe Group, Broe Real Estate Group and OmniTRAX, the company’s railroad subsidiary. The Broe Group has had offices in Cherry Creek since it was founded in 1972 by Pat Broe.
Broe Real Estate Group CEO Douglas Wells told the Denver Business Journal that the firm has experienced a lot of growth in recent years, leading it to invest in a long-term home. Wells said construction will soon get underway on the new 250 Clayton St. building.
"We are out in the market right now with construction drawings getting bids," Wells told the Denver Business Journal. "We have our financing lined up, so we are ready to go."
The companies will temporarily relocate in December and January for construction.
Phase 2 of the redevelopment project kicks off following the completion of 200 Clayton St., which opened in 2023 and is fully leased, according to The Broe Group.
The new building will be 175K SF with 10K SF of ground-floor retail. Designed by Beck, the office will have 25K SF to 30K SF floor plates and feature a drive-thru visitor entrance, outdoor spaces, a building lounge and green rooftop accents.
Construction is expected to be complete by the second quarter of 2028. The 250 Clayton building will bring The Broe Group’s area holdings to more than $1.5B, according to the company.
The Broe Group’s redevelopment is one of a few projects underway in Cherry Creek North.
Earlier this year, demolition began on the Sears building and a former Crate & Barrel to make way for the Cherry Lane mixed-use development. The project will include 379 apartments, 59K SF of office space and 133K SF of retail space once completed.
Cherry Creek remains a strong office and retail submarket, according to the latest market report from Hoff & Leigh, which says the area is seeing sustained demand for high-quality and amenity-rich spaces.
