BMC Investments and Bow River Capital Partners acquired 2727 East Second Ave for more than $7.3M and are planning to develop an eight-story, 70k SF office building at Second Avenue and Detroit Street in Cherry Creek North. The property will include 5k SF of retail, and groundbreaking is slated for August 2017.

Once the project is completed, both BMC and Bow River will move their HQs into the space, the Denver Business Journal reports. The two companies will take about 20k SF combined, leaving the balance of 50k SF of office space available for lease. 4240 Architects will design the project; Haselden Construction will build it.

Denver-based BMC is no stranger to the submarket. The investor has purchased five other properties in Cherry Creek North since 2012 and is at work on a Marriott Moxy hotel and an apartment project in Cherry Creek North. [DBJ]