Cherry Creek North Apartment Building Leases 26,000 Square Feet of Retail Ahead of Opening

The Oasis Apartments, a 177-unit building under construction by BMC Investments and Rockpoint, filled its ground-floor commercial space two years before tenants move in.

By the Family Office Real Estate Daily Desk·Monday, September 28, 2026·1 min read

Editorial summary of reporting byBisnow Our editorial standards →

The answer · checked against Bisnow

Which retailers are moving into the Oasis Apartments in Cherry Creek North and when will they open?

The Oasis Apartments, a 177-unit building under construction at 299 Milwaukee St. in Cherry Creek North by BMC Investments and Rockpoint, has fully leased its 26,000 square feet of ground-floor retail space ahead of a 2027 opening. Tenants include Two Hands cafe and restaurant, PopUp Bagels, a real estate brokerage, and a home furnishings shop. Cherry Creek North retail vacancy stood at 4.1% in 2025.

Key facts

The Oasis Apartments at 299 Milwaukee St. in Cherry Creek North will include 177 apartment units and 26,000 square feet of retail space, according to Mile High CRE.
BMC Investments and Rockpoint broke ground on the Oasis Apartments in 2024.
Retailers at the Oasis Apartments are expected to open throughout 2027, and renters are expected to move into apartment units in the first quarter of 2027.
Confirmed retail tenants at the Oasis Apartments include Two Hands cafe and restaurant, PopUp Bagels, a real estate brokerage, and a home furnishings shop, according to Mile High CRE.
Cherry Creek North had a retail vacancy rate of 4.1% in 2025.

Cherry Creek North Apartment Building Leases 26,000 Square Feet of Retail Ahead of Opening — Image: editorial illustration · Story sourced from Bisnow

A 177-unit apartment building under construction in Denver's Cherry Creek North neighbourhood leased all of its ground-floor retail space ahead of its 2027 opening. The Oasis Apartments, developed by Denver-based BMC Investments and private equity firm Rockpoint, will include 26,000 square feet of commercial space at 299 Milwaukee Street.

Retail tenants at the building include cafe and restaurant Two Hands, bagel shop PopUp Bagels, a real estate brokerage and a home furnishings shop, according to Mile High CRE. The retail tenants are expected to open throughout 2027, with apartment renters moving into the building in the first quarter of that year.

BMC Investments and Rockpoint broke ground on the project in 2024. The retail vacancy rate in Cherry Creek North stood at 4.1% in 2025.

Elsewhere in Denver, San Francisco-based Carmel Partners bought a 277-unit apartment building in the River North Art District for nearly $77 million. The building, called Edison at RiNo, opened in 2018.

Illinois-based Brennan Investment Group purchased a nearly 137,000-square-foot property on 9 acres at 5050 Ironton Street in Denver's Montbello Industrial Park for $14 million, according to Denver property records. The industrial space is fully leased to a product distributor that has occupied the property since the early 2000s. Earlier this year, Brennan Investment Group bought a 64,000-square-foot building at 4881 Ironton Street for $5.3 million, records show.

California-based Steel Peak acquired an approximately 5-acre industrial outdoor storage property at 6669 Colorado Boulevard in Commerce City for $5.4 million. The deal marks the company's fourth industrial outdoor storage acquisition in the Denver metro over the past 12 months and the second in Commerce City in the past two months.

A Denver office building at 475 17th Street that was expected to convert into multifamily will go up for auction on November 2. The starting bid is listed at $750,000. Denver-based Revesco Properties was the company behind the anticipated conversion, with plans to turn the 16-story tower into 210 apartment units as of last year.

The Deployment Angle

Family Office Real Estate Daily Desk · our analysis, not the source's

The Oasis pre-lease demonstrates how scarce retail inventory creates anchor-tenant leverage in the right submarkets. A 4.1% vacancy rate means Cherry Creek North landlords can lock in triple-net leases two years before delivery and shift tenant-improvement risk to operators hungry for location. Family offices evaluating mixed-use development partnerships should model retail rollout as a separate-phase cashflow with earlier stabilisation than residential, particularly in supply-constrained nodes where street-level space commands waiting lists.

The arithmetic on Edison at RiNo suggests Carmel Partners underwrote a trailing cap rate near 5% for a 2018-vintage River North asset. At $278,000 per door, the basis implies Carmel sees rent growth ahead or values the location for a medium-term hold with embedded appreciation. Direct buyers should pressure-test River North fundamentals against the submarket's recent supply surge and confirm trailing occupancy and renewal rates before matching that pricing.

Brennan's $14 million Montbello purchase pencils to roughly $102 per square foot for a fully-leased, single-tenant industrial asset with a tenant in place since the early 2000s. The long occupancy history reduces re-leasing risk, but family offices co-investing in last-mile industrial should confirm lease maturity, rent-to-market gap, and tenant creditworthiness. A platform partnership with Brennan makes sense if the sponsor demonstrates repeatable deal flow in the metro, evidenced by its earlier $5.3 million Ironton Street acquisition this year.

Questions this story answers

01Who is developing the Oasis Apartments in Cherry Creek North?

The Oasis Apartments are being developed by Denver-based BMC Investments and private equity firm Rockpoint. The building is located at 299 Milwaukee St. in Cherry Creek North and includes 177 apartment units and 26,000 square feet of retail space. BMC Investments and Rockpoint broke ground on the project in 2024.

02What retailers are moving into the Oasis Apartments in Cherry Creek North?

According to Mile High CRE, confirmed retail tenants at the Oasis Apartments include Two Hands, a cafe and restaurant; PopUp Bagels, a bagel shop; a real estate brokerage; and a home furnishings shop. All retailers are expected to open throughout 2027.

03What is the retail vacancy rate in Cherry Creek North?

Cherry Creek North had a retail vacancy rate of 4.1% in 2025, making retail a high-demand commodity in the submarket.

04When will the Oasis Apartments open in Cherry Creek North?

Renters are expected to move into the Oasis Apartments' 177 apartment units in the first quarter of 2027. Retailers occupying the building's 26,000 square feet of ground-floor commercial space are expected to open throughout 2027.

05How much retail space is at the Oasis Apartments and is it fully leased?

The Oasis Apartments at 299 Milwaukee St. in Cherry Creek North includes 26,000 square feet of ground-floor retail space. According to Mile High CRE, the retail space is fully leased ahead of the building's 2027 opening, with tenants including Two Hands, PopUp Bagels, a real estate brokerage, and a home furnishings shop.

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Original reporting

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