A High-Rise To Be Built On Fillmore St. In Blockbuster Deal Abolishing Four Retail Shops
by Glen Richardson
Cherry Creek North’s once trendy and fashionable boutique retail district suddenly seems right and proper as a Wile E. Coyote cartoon: “If you’re on the highway (Creek construction district) and Road Runner (developer) goes beep beep, just step aside or you’ll end up in a heap.” The latest villainous Road Runner action is on Fillmore St. where four retail shops are in the Looney Tunes spotlight. Seattle-based real estate firm Schnitzer West LLC, has purchased four Cherry Creek North properties located at 250 and 230 Fillmore St. plus 242 and 246 Milwaukee St.
The company plans to develop an office building with ground-level retail on the two adjacent properties on Fillmore St. between East 2nd and 3rd Avenues. Retail businesses that will be abolished by the latest development include Polished Nail Boutique, Essentia (a mattress store), plus apparel shop DVSN West. The deal also includes the adjacent Wizards Chest building. As reported in the Chronicle last month, the magical toy castle is opening a new store on Broadway and the Fillmore space will close following Christmas.
According to Schnitzer West there are no immediate plans for the two Milwaukee St. properties purchased a block east of where the Fillmore high-rise will be built, that building on the east side of Milwaukee, also located between 2nd and 3rd Ave. Current tenants in that building are Le Soutien — a lingerie shop that opened in 1994 — and Bliss Nails Spa.
Civica Cherry Creek
Denver-based architects Davis Partnership will design the new mixed-use project, which will be called Civica Cherry Creek. Design is still in the concept phase, however it is projected that the project will include roughly 90,000 square-feet of upscale Class A+ office space and an additional 10,000 square-feet of retail and restaurant space. It will also include a multi-level underground parking garage that will be open to the public.
Schnitzer West has previously acquired and managed properties here, however, Civica Cherry Creek will be its first ground-up development in the district. The Cherry Creek project is named after Civica Office Commons, the company’s award-winning inaugural project in the Seattle metro market. “The first Civica redefined how office space could and should work for tenants and drove tremendous innovation in Northwest real estate,” explains Managing Partner Doug Zabel. “We think Civica Cherry Creek will do the same for the Denver market.” Demolition will begin early next year with completion scheduled in mid-2017.
Seattle-based Schnitzer West sold First Avenue Plaza in Cherry Creek North for $75 million last year. Located at 55 Madison and 44 Cook St., it was one of the district’s largest office building sales. Schnitzer West still manages the property. There is currently more than 200,000 square feet of new office space under construction in Cherry Creek North. Western Development Group is nearing completion on 89,000 square feet of office space at 200 Columbine and The Pauls Corp. is building 149,000 square feet at 100 Saint Paul St.