Fillmore Place

fillmore-case-study-thumbnailProperty Type:  Office and Retail Mixed Use Development

Size:  200,000 SF along with a 200 car parking garage covering a full city block in Cherry Creek

Location:  First and Fillmore Streets in the Cherry Creek neighborhood of Denver, CO.

Project:  Acquisition and repositioning of property for a pension fund client.

 

 

The Story:

  • Fillmore Place had been foreclosed by its lender, and had not been well managed or maintained.  The two major tenants, Janus Funds and Tattered Cover Bookstore, were unhappy and considering relocating.
  • Corum acquired the property on behalf of the Colorado Fire & Police Pension Fund and began a renovation program for the exterior, interiors, and parking garage.
  • Upon completion of renovation, Corum renewed and extended the lease commitments of both Janus and the Tattered Cover for ten year terms.
  • Corum provided leasing and management services at the property through the year of FPPA’s disposition.
  • Fillmore Place sold at a price that provided FPPA with an IRR in excess of 20% on its all cash acquisition of the property.