Second Cherry Creek gateway corner sells for $3M

Doug McKinnon has sold another of his Cherry Creek gateway corners The owner of real estate firm McKinnon Associates last week sold - S Colorado Blvd two parcels that form the northwest corner of Colorado and Bayaud Avenue for million according to community records The undeveloped site is acres so the deal works out to a square foot McKinnon stated the local buyer will be utilizing the G-RO- zoning we put in place to develop an office building for his firm s use on the site The property was purchased by DEG Realestate LLC an entity formed by Alla Feldman with an office address corresponding to a home within Cherry Creek Country Club Reached by phone Feldman declined to comment on the purchase No rise plans have been submitted to Denver for the site The corner lot is one of four on the outskirts of Cherry Creek all marketed as a redevelopment opportunity that a McKinnon-led group bought in for million The other lots were the southwest corner of Colorado and Bayaud and the southwest and northwest corners of Colorado and First Avenue McKinnon got the sites rezoned in after striking an unusually detailed good neighbor agreement with surrounding residents Then he put Cherry Creek Gateway signage up at each of the properties indicating they were for sale Related Articles In the Denver area leasing for industrial spaces seeing a rebound ZS Capital Partners acquires Centennial Machinery Center for million Denver Fitness pays M for land once eyed by apartment developer Former Wash Park Grille property sold for M will remain a restaurant -story office building to be converted into housing in Denver s Capitol Hill In McKinnon sold the southwest corner of Colorado and Bayaud for million He still owns the corners at Colorado and First He bought a neighboring parcel there for million in giving him a larger footprint at the intersection Get more real estate and business news by signing up for our weekly newsletter On the Block Read more from our partner BusinessDen Get more business news by signing up for our Financial market Now newsletter