One Cherry Center

Overview

Cushman & Wakefield, as exclusive advisor for the Seller, is pleased to present the opportunity to acquire One Cherry Center; an infill, best-in-class office asset located in central Denver adjacent to the burgeoning Cherry Creek submarket (“Property”). One Cherry Center is comprised of 155,996 square feet and is currently 88% leased to a diverse tenant base providing an investor durable in-place cash flow with upside in rolling rents to market and lease-up of remaining vacant suites. Additionally, the rent roll is comprised of 18% medical tenants allowing for further repositioning by adding more medical tenants with longer lease terms and higher lease rates, fulfilling a need for the surrounding densely populated neighborhoods. With Class vacancy in Cherry Creek of 2.2% and lease rates in excess of $40 per square foot NNN, One Cherry Center provides investors a rare opportunity to acquire the premier asset in Glendale, downstream from Denver Metro’s best office market, at a remarkable discount to Cherry Creek with significant upside.

 

Located near the intersection of Colorado Boulevard and Alameda Avenue, in the epicenter of Glendale’s live/work/play renaissance, One Cherry Center is densely surrounded by Denver’s premier, most affluent neighborhoods including Cherry Creek, Country Club, Hilltop, Bonnie Brae and Washington Park, among others. Located five miles from Denver’s CBD and less than two miles to Cherry Creek, One Cherry Center provides an easily accessible, economical alternative to these office markets with an abundance of walkable amenities including Life Time Fitness, Colorado’s top performing King Soopers and Target, CitySet retail development and the Glendale Entertainment District where first phase is scheduled to be completed at the Property’s front door in 2024.

Investment Highlights