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The Denver City Council has declared Hangar 61 on the site of
the old Stapleton Airport along Montview Boulevard east of Quebec
Street Denver Historic Landmark. The 9,000 SF thin-shell concrete
hangar was built in 1959 to house corporate aircraft of Ideal Basic
Cement Co. and was placed on the Colorado Register of Historic Places
last year. It will be renovated for commercial occupancy with a grant
from the Colorado Historical Society and a historic preservation
easement will be donated to Historic Denver, Inc. More at:
http://www.preservationdirectory.co
m/PreservationBlogs/ArticleDetail.aspx? id=266&catid=11
Calvin Klein has opened the company's first stand-alone store
in Colorado at the Cherry Creek Shopping Center. The 10,000 SF store
is only the 4th stand alone Calvin Klein store in the nation.
Previously Calvin Klein sold its men's and women's clothing primarily
in department stores.
Lands' End has expanded in Cherry Creek. A number of Lands' End
items were available in the Sears store in Cherry Creek since Sears
bought Lands' End in 2002. Now almost the entire main level of the
Sears store at 1st/University is now filled with 22,000 SF of Lands'
End clothing, luggage, pet, home and fitness items. This store within
a store concept is being implemented in 200 of the over 900 Sears
stores nationwide. Separately, Sears Roebuck and Co., parent of Sears
and K-Mart bought 14% of Restoration Hardware in November. Restoration
Hardware is, of course a tenant across East 1st Avenue from the Cherry
Creek Sears store in the Cherry Creek Shopping Center.
Denver City Council Member Jeanne Robb reports that the 2008
Post-News Colorado Colfax Marathon is gearing up to be held on
Sunday May 18, 2008. The course will begin and end near the northeast
corner of City Park. In between, it will go to Lakewood via West
Colfax Avenue with a couple of excursions to Sloan's Lake and the
Federal Center. More at:
h ttp://www.coloradocolfaxmarathon.org/portal/
The 9-story 84,000 SF Forum at Cherry Creek office building at
425 South Cherry Street in Glendale sold recently for $10,250,000 or
$122/SF. The property included a 52,000 SF 2-level parking structure
and was 88% occupied at the time of sale. The building was built in
1982.
The 6,000 SF Regatta Square retail building at 727 Colorado
Boulevard sold recently for $2,175,000 or $363/SF. Tenants in the 1996
building include the Smiling Moose Deli, Tokyo San Bowl and India
Express, all restaurants with no vacancy.
The 3-story 6,800 SF office/retail building at 255 Detroit Street
sold recently for $2,100,000 or $309/SF. The 1982 building was
fully occupied by boutique type tenants.
The 5,300 SF office building at 48 Steele Street sold recently
for $2,775,000 or $524/SF. The 1968 building was totally vacant and
"gutted" at the time of sale. The buyer reportedly intends to assemble
the property with adjacent properties for redevelopment.
And finally, the late breaking rumor on the Cherry Creek real estate
scene is that Britney Spears is moving to Cherry Creek North.
Bill Husted reported in the Denver Post that,
According to a former Spears security guy, she's been here and
she's coming back. The pop-tart train wreck was reportedly in Denver
in mid-December with her sometime boyfriend/developer pal John Sundahl.
They arrived in a private plane and looked at a house in Cherry Creek
North, where he plunked down a $2.2 million deposit. Then they drove
to Estes Park in an SUV to check out the Harmony Foundation, a well-
regarded 28-day residential rehab center.
Spears also was spotted that day in a black SUV by some CU
students-who call themselves the "CU Gossip Girls." According to our
source, Sundahl wants Spears to try the Colorado rehab, as her other
efforts were, er, less than successful. And she wants to be close to
Sundahl, who is relocating to Denver. This might be some fun.
According to the 7News website,
Several blogs and at least one celebrity-gossip Web site have
reported that Britney Spears may be moving to Colorado for drug rehab.
The two have denied a personal relationship after several tabloids
reported they were dating.
There really is a point to all this. More relevant to the Cherry Creek
real estate market, Margaret Jackson in the Denver Post reports,
The influx of people buying second homes in the district is a point
of contention among some full-time residents and business owners, who
say it's changing the character of the neighborhood. But others say
it's nothing new.
About half of the condos sold in the first phase of Western
Development's NorthCreek project at First Avenue and Fillmore
Street have been second or third homes, said Roy Kline, a partner at
the firm. "Several have large homes up in Aspen," Kline said. "These
are sort of smaller, in-town places they're choosing for convenience
and shopping." Western Development has aggressively gone after
mountain residents who want second homes in Denver. It's held several
marketing events in Aspen and Vail to get to know the brokers there,
Kline said.
A number of buyers at Monroe Pointe, 333 S. Monroe St., are
purchasing second or third homes, said Rhonda Knop, an agent at
Distinctive Properties Inc. who is marketing the property. "Some are
selling bigger homes in Denver and will be spending more time in the
mountains or more time in the desert because they're not working as
hard as they used to," Knop said. "I also hear people saying, 'I'm
tired of paying the JW Marriott when I come down a couple of times a
week.' "
Changes in the neighborhood are leading some longtime businesses to
leave. The owners of the popular Chinook Tavern cited
neighborhood changes, limited parking and an influx of new restaurants
as reasons for relocating to the Landmark in Greenwood Village.
Clemens Georg, who owns the restaurant with his father, Manfred,
recently said they are concerned about the neighborhood's direction.
Cherry Creek, they said, is becoming an even wealthier area with
second-home owners as opposed to full-time residents.
But many retailers find great success.
Terri Garbarini has run a successful women's clothing
boutique at 3003 E. Third Ave. for the last 10 years and is expanding
her store. "Obviously, there are people who are thriving," Garbarini
said. "I wouldn't have my store anyplace else. Cherry Creek North is
the Beverly Hills of Denver." Garbarini started to notice a change in
the mix of retailers when Clayton Lane arrived. It seems, she said,
that many of the new retailers are in the interior- design and home-
furnishings industry.
In fact, according to the Cherry Creek North Business Improvement
District, there are 26 home stores, seven interior-design boutiques
and 18 art galleries. In addition, there are 17 jewelry boutiques, 50
salons and spas, 47 restaurants and 280 independent merchants. "Half
the shoppers in Cherry Creek North live within walking distance," said
Julie Bender, chief executive of the district. "Customers walk into
the district an average of eight times a month. It's the envy of every
other retail district."
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