Broe Group Bets Big on Cherry Creek North with $200M Redevelopment

Denver, CO – While downtown Denver grapples with high office vacancy rates, one neighborhood continues to thrive: Cherry Creek North. The Broe Group is capitalizing on this momentum with a $200 million redevelopment project at 250 Clayton Street, demonstrating confidence in the area’s enduring appeal. The project, slated to begin in early 2026, will replace existing structures with a modern, eight-story building featuring the largest floorplates in the neighborhood and a suite of premium amenities.

This ambitious undertaking isn't just about new construction; it’s a strategic play in a shifting commercial real estate landscape. The Broe Group, a privately-held investment firm, is betting that Cherry Creek North’s unique blend of luxury retail, upscale dining, and vibrant street life will continue to attract tenants and drive value, even as other parts of the city struggle.

Riding the Cherry Creek Wave

Cherry Creek North has consistently outperformed the broader Denver market, boasting a remarkably low office vacancy rate of around 6.6% in late 2024 – a stark contrast to the nearly 25% vacancy rate plaguing downtown. This resilience is fueled by a combination of factors, including high disposable income in the surrounding area, limited new office supply, and a strong sense of community.

“Cherry Creek has always been a destination,” said one local commercial real estate broker, speaking anonymously. “It’s where people want to be, both to live and to work. That creates a consistent demand that you just don’t see in other parts of the city.”

The new 250 Clayton Street project is designed to capitalize on this demand. The building will feature spacious floorplates ranging from 25,000 to 30,000 square feet, a significant advantage in a market where most buildings offer smaller spaces. This will allow the building to attract larger tenants who might otherwise be unable to find suitable space in Cherry Creek North.

“The larger floorplates are a game-changer,” explained another industry source, also speaking anonymously. “It opens up the market to companies that need more space, creating a new level of competition and driving up values.”

Navigating a Competitive Landscape

However, The Broe Group isn’t the only developer recognizing Cherry Creek North’s potential. The neighborhood is currently experiencing a surge in construction activity, with several other large-scale projects underway, including the Cherry Lane mixed-use development, 201 Fillmore Street, and the ambitious Cherry Creek West project.

“The competition is definitely heating up,” acknowledged a construction manager familiar with the area. “Developers are all vying for the same tenants, so they need to differentiate themselves with unique features and amenities.”

To stand out, The Broe Group is emphasizing sustainability, design, and premium amenities in the 250 Clayton Street project. The building will incorporate energy-efficient technologies, outdoor spaces, and a rooftop lounge, creating a work environment that appeals to today’s discerning tenants. Furthermore, the company is investing in infrastructure improvements, including underground parking, to enhance the overall tenant experience.

A Strategic Redevelopment Plan

The redevelopment of 250 Clayton Street is a complex undertaking that requires careful planning and execution. The Broe Group is taking a phased approach, starting with the temporary relocation of existing tenants from 252 and 216 Clayton Street to 50 S. Steele Street, a property they already own. This will allow them to seamlessly demolish the existing structures and begin construction of the new building in early 2026.

The company also plans to redevelop the 50 S. Steele Street property, demolishing the existing office building to make way for a 478-unit apartment complex with ground-floor retail. This strategic move will allow The Broe Group to maximize the value of its real estate portfolio and further enhance the vibrancy of the Cherry Creek North neighborhood.

“It’s a well-thought-out plan,” said a local urban planner, speaking anonymously. “They’re not just building a new office building; they’re creating a mixed-use destination that will attract residents, workers, and visitors alike.”

Beyond the Project: A Vision for the Future

The Broe Group’s investment in Cherry Creek North is more than just a real estate transaction; it’s a vote of confidence in the neighborhood’s long-term potential. While the broader commercial real estate market faces uncertainty, Cherry Creek North remains a beacon of stability and growth.

The success of the 250 Clayton Street project will depend on The Broe Group’s ability to attract high-quality tenants, deliver a world-class work environment, and navigate the increasingly competitive landscape. However, with its strategic location, premium amenities, and commitment to sustainability, the project is well-positioned to succeed.

“Cherry Creek North is a special place,” said a long-time resident of the neighborhood. “It’s a community that values quality, innovation, and a vibrant lifestyle. The Broe Group understands that, and they’re building a project that reflects those values.”

The redevelopment of 250 Clayton Street is a testament to the enduring appeal of Cherry Creek North and a signal that the neighborhood is poised for continued success in the years to come. As the Denver commercial real estate market evolves, Cherry Creek North is likely to remain a sought-after destination for businesses, residents, and visitors alike.