M & J Wilkow Makes Strategic Reentry into the Denver Market
M & J Wilkow announced today that it has completed the acquisition of the Cherry Creek Corporate Center in Glendale, Colorado as part of a joint venture with a fund managed by DRA Advisors LLC. The Property consists of a 238,302 square foot, 12-story office tower and a 4-story parking garage, and is located just five miles from downtown Denver and minutes from the heart of Cherry Creek.
Constructed in 1978, Cherry Creek Corporate Center has recently undergone a $15 million renovation to include a full spectrum of tenant amenities and building enhancements. The Property offers 360 degree views and features a newly renovated lobby and updated common areas, as well as a fitness center. At 85% occupancy, Cherry Creek Corporate Center has 35,000 square feet of currently available office space for lease. M & J Wilkow Properties, LLC will manage the property and plans to make additional building improvements, as well as further enhance the building amenities.
"We are very pleased to be acquiring a premier asset in a highly amenitized and evolving area in Glendale, Colorado. Cherry Creek Corporate Center is an outstanding addition to our portfolio and fits well into our target investment criteria," said Gregg Wilkow, Executive Vice President of M & J Wilkow, Ltd. "This acquisition represents an attractive opportunity to own a well-positioned asset in an adjacent location to Cherry Creek, which allows tenants to avoid increasing traffic and parking challenges while enjoying a broad base of walkable amenities in Glendale. We are also very excited to be teaming up with our outstanding partner, DRA Advisors, for the fifth time."
M & J Wilkow will draw on its experience in the Denver office market in order to successfully manage Cherry Creek Corporate Center. The Company owned and operated Triad at Orchard Station, a 415,000 square foot office park located in Southeast Suburban Denver, successfully redeveloping and repositioning the property, which was sold in October 2015.