One Cherry Creek | Cherry Creek West
East West Partners and Denver-based private equity partner Ascentris have officially launched leasing for One Cherry Creek, the first office building planned at Cherry Creek West, the 13-acre mixed-use redevelopment reshaping the west end of the Cherry Creek Shopping Center.
The eight-story building will deliver 200,000 square feet of Class A office space and 19,000 square feet of ground-floor retail in the heart of what has quietly become one of the most competitive office submarkets in the country. Cushman & Wakefield is leading the leasing assignment.
One Cherry Creek is designed to blur the line between indoors and outdoors, with floor-to-ceiling glass, private tenant terraces on every level and light-filled, flexible floorplates built for both focused work and collaboration. Tenant amenities include a conference center with capacity for more than 80 people, a private boardroom, a lounge and pre-function space, a 1,700-square-foot outdoor terrace, on-site fitness and showers, and secure bike storage. The building is targeting LEED Gold certification.
Cherry Creek West will span four city blocks from University Boulevard to Clayton Lane and from 1st Avenue to the Cherry Creek waterway, reconnecting the neighborhood to the creek and introducing significant new public open space.
Phase 1 will deliver approximately 400 residences, 200,000 square feet of office and 50,000 square feet of retail. At full build-out, the project will include roughly 840 residences, 600,000 square feet of office, 100,000 square feet of retail, and more than 2,000 underground parking spaces. Demolition on the first phase began earlier this year, with vertical construction set to follow. One Cherry Creek is scheduled for completion in summer 2029.
The launch comes at a moment that underscores just how unusual the Cherry Creek office market has become. While downtown Denver continues to grapple with a vacancy rate north of 38 percent and older office towers across the country struggle to hold tenants, Cherry Creek is operating on a completely different plane.
The submarket is among the tightest in the nation, with Cherry Creek North sitting at roughly half a percent vacancy and the broader Cherry Creek market hovering in the mid-single digits. Class A rents are pushing past $60 per square foot full-service, and new buildings here routinely lease up before shovels hit the ground. There is almost no comparable office market anywhere else in Denver, and few in the country that look like it.
That dynamic has only accelerated as tenants migrate from older towers into amenity-rich, walkable submarkets. Palantir's recent move from the Tabor Center to Financial House, which Naked Denver previously covered, is the latest example of a broader flight to quality landing in Cherry Creek. One Cherry Creek is positioned to capture that same demand at scale, delivering the kind of new product that simply does not exist elsewhere in the city.
With 200,000 square feet coming online in a submarket where tenants are actively chasing space that has not yet been built, it likely will not be long before a marquee tenant is announced as the first to call Cherry Creek West home.
