Developments Blurred By Ownership Changes; New Mall Encounter: 300 Small Shops Opening

by Glen Richardson

Chopped Hamburger: Unico Properties has acquired four-properties on the north side of 2nd Ave. including the Cherry Cricket restaurant building. With a long-term lease the popular eatery isn’t expected to be touched. Major changes are expected for two buildings along Clayton St.

Don’t look for that deluge of cranes and construction zones symbolizing the changing face of Cherry Creek to vanish anytime soon. Why? The entire west end of Cherry Creek North — including the Cherry Creek Shopping Center’s western portion — is getting set to undergo sudden and unforeseen adjustments and revision.

The changing ownership of properties, moreover, is making the entire equation increasingly complicated. Consider these twist and turns: Brookfield Asset Management just closed on its acquisition of OliverMcMillan, the redeveloper of the Clayton Lane development anchored by Whole Foods Market and Crate & Barrel. Moreover, of course, Amazon purchased Whole Foods since OliverMcMillan acquired the property.

Another company, Unico Properties, has simultaneously acquired a four-property portfolio on the north side of 2nd Ave. from Clayton St. to the corner at Columbine where The Thirsty Lion is located. The Cherry Creek Inn — the hotel located next to the cluster of properties Unico recently purchased and is considering shaking up — could also be in for a dramatic jolt. Although BMC Investments — the firm behind the Halcyon and Moxy Hotel plus a half-dozen mixed-use projects in the district —has submitted a concept plan for the Cherry Creek Inn to the city they could easily change before actual work begins next year.

Whole Lot Of Change: Original plans called for Whole Foods Market to be relocated to the southwest corner of 1st Ave. and University. Now both Whole Foods Market and the redeveloper of Clayton Lane have changed owners.

It seems just as likely as not that CEO Matt Joblon will hatch a plan to bring the Unico properties into play for a much bigger development on the west side of Clayton, to include the floral shop and tailor.

Clayton Lane Confusion

Readers will recall that San Diego-based OliverMcMillan bought the retail portion of the six-building Clayton Lane development, located along East 1st and 2nd Ave. between Josephine and Detroit in 2016. They planned to redevelop the site into a mixed-use community, incorporating apartments above a shopping and dining experience.

The former Sears building, currently sitting vacant, was to be demolished and replaced with a pedestrian-friendly street running throughout the project, connecting the various uses, retailers and dining destinations. The Whole Foods Market was to be relocated to the southwest corner of 1st Ave. & University.

Out of the blue Calgary-based Brookfield Residential Properties Inc. has closed on its acquisition of OliverMcMillan. In a prepared statement about the amalgamation of the two companies as this issue of the Chronicle went to press, Denver’s Clayton Lane wasn’t talked about despite considerable dialogue about properties in Houston, Atlanta, and Nashville. According to the release, “OliverMcMillan will continue to design and build mixed-use development and will continue to manage its existing real estate assets.”

Change At The Mall

East End Construction: Construction work is nearing completion on the east end of the Cherry Creek Shopping Center along both 1st Ave. and Steele St. where Safeway and Rite Aid were previously located. Macy’s Furniture Gallery and the Container Store are being relocated from the west end of the mall.

On the south side of 1st Ave. change is also beginning to shroud the Cherry Creek Shopping Center. Renovation work is currently nearing completion on the east end of the mall where Safeway and Rite Aid were previously located. Macy’s Furniture Gallery and The Container Store are being relocated at this juncture from the west end where they are currently the two largest tenants subsequent to the move by Bed Bath & Beyond to Glendale last November.

International shopping center experts suggest that the future of the Cherry Creek Shopping Center hinges on one key factor: it has always been Denver’s top tourist attraction. Therefore they reason local mall management and Taubman will turn it to an advantage by creating a destination center offering shoppers and visitors a comprehensive Rocky Mountain travel-shopping adventure.

Shopping Showcase: Shoppers this month can browse two floors and 62,000 sq. ft. of independent shops. The Shopping District with 300 small shops has opened on the west end of the Cherry Creek Shopping Center.

Anchor tenants that drive traffic will still be a marketing key, but new emphasis will be placed on a mix of smaller stores that add a sense of novelty to the mall offering. This is expected to be especially critical in Cherry Creek because developers are driving most of the small, independent retailers out of the 16-block shopping district on the north. Additionally, consideration may be given to making greater use of temporary, flexible spaces that can accommodate different stores over time. Pop-up stores, showroom spaces and kiosks provide customers with a sense of the unexpected and give them a reason to treasure hunt.

Small Shops Go Big

They would be right: This month 300 local makers and small businesses are joining together to create a new kind of shopping experience in the Cherry Creek Valley. Opening in the old Bed Bath & Beyond space on the west side of the mall, the group’s goal is to provide local vendors a place to showcase. The new concept combines the best of the popular pop-up marketplaces; free standing boutique shops, and street markets in one place and open every day.

It is a local merchant movement that runs counter to today’s mega-store closures. A place where people can browse two floors and 62,000 sq. ft. of small independent shops and buy unique products direct from local makers, artisans, and small shop owners. The difference: Shopping offering new discoveries, exciting finds, and huge depth of local talent around every corner.

The space is divided into seven shopping districts: A Vintage District selling repurposed and up-cycled vintage finds including new and upscale furniture and décor; The Boutique District: Shops offering the latest in fashion, accessories and jewelry; A Spa District: Selling a selection of locally sourced, locally made or make it yourself spa products. Plus there’s a section known as The Little’s District where kid entrepreneurships offer product

Clayton Lane At Crossroads: Canada’s Brookfield Asset Management has just acquired San Diego’s OliverMcMillan, the redeveloper of Cherry Creek’s Clayton Lane. The redevelopment plans pictured are now in doubt.

s for the little ones.

Also shoppers will discover a Gentlemen’s District: Products for guys ranging from candles and beard oils, to leather wallets and lamps; A Food District offers locally sourced and made culinary treats from sauces and salt to meats plus grab and go beverages and snacks. Finally there’s a Beer, Wine & Spirits area selling local craft beer, wine and spirits. The new space also has a lounge, barber, photographer and licensed chiropractor. Information: 720-641-6648.

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