Ground-floor retail at an apartment building under construction in Cherry Creek North is fully leased ahead of its 2027 opening.
The Oasis Apartments, developed by Denver-based BMC Investments and private equity firm Rockpoint, will include 177 apartment units and 26K SF of retail space. Retail tenants at the building, located at 299 Milwaukee St., include cafe and restaurant Two Hands, bagel shop PopUp Bagels, a real estate brokerage and a home furnishings shop, according to Mile High CRE.
Retail is a hot commodity in Cherry Creek North, with a vacancy rate of 4.1% in 2025.
BMC Investments and Rockpoint broke ground on the apartment building in 2024. Renters are expected to move into the apartment units in the first quarter of 2027, and retailers are expected to open throughout 2027.
CONSTRUCTION AND DEVELOPMENT
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AC Hotel Denver RiNo, a 128-room hotel under the Marriott flag, is now open at 3680 N. Brighton Blvd. The seven-story hotel was designed and built by California-based KTGY and Littleton’s Bristlecone Construction.
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Defense and space manufacturing company Barber-Nichols is expanding in Arvada with a new 37K SF facility. The expansion at 6290 W. 56th Ave. will allow the company to accelerate product delivery. The project is estimated to cost $15M, according to the Denver Business Journal.
PEOPLE
Denver-based Steven Holtkamp is the new president of the Federation of Exchange Accommodators, a national trade association for the 1031 exchange industry. Holtkamp is also the president of Accruit, a company offering 1031 exchange solutions.
SALES
Real estate investment and development firm Carmel Partners bought a 277-unit apartment building in Denver’s River North Art District for nearly $77M. The apartment building, called Edison at RiNo, opened in 2018. Carmel Partners is a San Francisco company with an office in Denver.
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A Denver office building at 475 17th St. that was expected to convert into multifamily will go up for auction on Nov. 2. The starting bid is listed at $750K. Denver-based Revesco Properties was the company behind the anticipated conversion, with plans to turn the 16-story tower into 210 apartment units as of last year.
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Illinois-based Brennan Investment Group purchased a nearly 137K SF, 9-acre property at 5050 Ironton St. in Denver’s Montbello Industrial Park for $14M, according to Denver property records. The industrial space is fully leased to a product distributor that has been there since the early 2000s. Earlier this year, Brennan Investment Group bought a 64K SF building at 4881 Ironton St. for $5.3M, records show.
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California-based Steel Peak acquired an approximately 5-acre industrial outdoor storage property at 6669 Colorado Blvd. in Commerce City for $5.4M. This is the company’s fourth industrial outdoor storage acquisition in the Denver metro over the past 12 months and the second in Commerce City in the past two months.
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California multifamily investment firm FPA Multifamily purchased three Denver properties totaling 237 units. The sale included 2512, 2550 and 2580 S. University Blvd., which were built from 1967 to 1974. CBRE represented the sellers, who are the original owners of the multifamily properties.
LEASES
The Clyfford Still Museum plans to build a multi-use gathering space at 1247 Bannock St. to meet growing demand for its programs and events. The Clyfford Still Museum Foundation bought the property in 2018 for $3M, according to Denver property records, and rented the space to Cap City Tavern until July 2025.
THIS AND THAT
Bad Ass Coffee of Hawaii moved its headquarters from Centennial to Lexington, Kentucky, and opened a new East Coast distribution center. The coffee shop has nearly 50 locations, including three in the Denver metro and three in Colorado Springs.
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What was once industrial land is now an 80-acre park and Denver’s largest nature park. Carpio-Sanguinette Park & Heron Pond Open Space at 1401 E. 54th Ave. in Globeville opened to the public on Sept. 26. The park features a pond, playground, picnic pavilion, pump track and outdoor amphitheater.
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