250 Columbine milestone

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Highlights:

  • 250 Columbine is under construction in Cherry Creek North.
  • It includes condominiums, office and retail.
  • Condo sales are strong and office has been “topped out”
A view of 250 Columbine, which include an 8-story office component.

A view of 250 Columbine, which include an 8-story office component.

Western Development Group has celebrated a milestone with its 250 Columbine, mixed-use development in Cherry Creek North.

The Denver-based company on Thursday celebrated the “topping out” of the office building component of the company’s development, a tradition that dates backs to the Vikings.

The eight story, Class A office building is at 200 Columbine St.

The entire development includes two buildings separated by a mid-block drive aisle.

At the southern corner of the block on 2nd Avenue and Columbine Street, 80,000 square feet of single- and multi-tenant office space is within seven stories, all above ground floor retail.

The north end of the site is home to 71 for-sale condominium residences, the only for-sale condos in CCN. over 30,000 square feet of retail space that extends along Columbine and onto 3rd Avenue. The residential portion of the development will top out in early October.

More than 65 percent of the condominiums are under contract. It is the largest condo community underway in the Denver area, as few developers are willing to tackle condo development because of the threat of construction defect liability lawsuits. Also, there is only one and a half floors in the office building that are still available, based on signed leases and leases under negotiations with tenants.

“Cherry Creek North has long-been one of Denver’s most popular locations, and with all of the new development and overall improvements happening in the area, it is becoming the premier office, residential and retail address in the city,” said David Steel, a partner at Western Development Group.

“While we still have a lot of important work to do, we’re very pleased with our progress to-date and the favorable feedback we’ve received from the community,” Steel added.

The office and retail portion of the 250 Columbine development will be completed by the late first quarter of 2015, and the condominium residences will be completed in the early summer of 2015.

Construction of 250 Columbine began in August of 2013. Denver-based OZ Architecture is he architect and PCL Construction of Denver serving as the general contractor.

Interested in buying a home in Cherry Creek North? Please visit COhomefinder.com to learn what is available.

Have a story idea or real estate tip? Contact John Rebchook at JRCHOOK@gmail.com. InsideRealEstateNews.com is sponsored by Universal Lending, Land Title Guarantee and 8z Real Estate. To read more articles by John Rebchook, subscribe to the Colorado Real Estate Journal.

 

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John Rebchook

John Rebchook has more than 30 years of experience in writing and communications. As the Real Estate Editor for the Rocky Mountain News, he wrote about residential and commercial real estate for 26 years. He has won numerous awards for business stories and columns that he wrote, both as an individual and part of teams. In addition to real estate, he also covered economic development, banking and financing, the airlines, and cable TV for the Rocky. In addition, he was one of the original freelance writers for GlobeSt.com, covering commercial real estate for the Internet publication.

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