Marcus & Millichap is pleased to present Stone Garden on Birch, a three-building, 74-unit multifamily asset located off South Colorado Blvd in highly desirable Glendale. Stone Garden on Birch is less than half a mile from Colorado Blvd, offering excellent proximity to both the Colorado Blvd Business Corridor and the sought-after Cherry Creek neighborhood. Delivered in 1977, this multifamily community showcases elevated, yet classic apartment living enhanced by unparalleled proximity to some of Denver’s most popular area amenities. Positioned between the city’s top employment hubs and adjacent to some of the most affluent neighborhoods in all of Denver, Stone Garden on Birch caters to young, affluent residents in search of the ultimate balance of proximity to employment and access to an alluring restaurant and nightlife landscape in Cherry Creek.
Stone Garden on Birch’s favored combination of classic, yet elevated apartment living paired with its unparalleled proximity to popular area amenities and impeccable location will continue to attract young, affluent renters pursuing the ultimate balance of proximity to employment hubs and the alluring Cherry Creek neighborhood. Offering a best-in-class live-work-play environment, easy access to both Downtown and the Denver Tech Center, and proximity to some of the metro areas top employment centers, Stone Garden on Birch offers immediate scale and a wide-ranging value-add opportunity. Supported by impressive market fundamentals, Stone Garden on Birch represents a unique acquisition opportunity in one of Denver’s most desirable location
Connectivity to Downtown & DTC Employment Hubs: Stone Garden on Birch is located less than 20 minutes from Downtown Denver and the Denver Tech Center, offering residents proximity to many of the city’s top employers. Denver boasts a well-diversified economy, with key industries being professional and business services, government sector jobs, and financial activities, followed closely by leisure and hospitality. Fortune 500 companies including, but not limited to, BP, Wells Fargo, TransAmerica, CenturyLink, and DaVita all have a major presence in Denver. The Denver Tech Center is home to more than 48 million square feet of office space, which is the highest concentration of office space along Colorado’s Front Range. The Denver Tech Center’s concentration of office space and talent has made it a sought-after location for a variety of businesses, including six Fortune 500 companies: Arrow Electronics, Qurate Retail Group, Dish Network, Liberty Media, Newmont, and DCP Midstream. Beyond several Fortune 500 companies, a wide array of large, private employers also has a strong presence in the DTC. Stone Garden on Birch offers residents excellent access to two of the Denver area’s top employment hubs.
Between Colorado Blvd Business Corridor and 9th & CO Redevelopment: Stone Garden on Birch is located less than three miles from the 9th & Colorado redevelopment, nestled between the iconic Congress Park and Hale neighborhoods. The 9th & Colorado redevelopment started as a 26-acre urban infill site that now includes 1,100 apartments, condos, and townhomes, 40-50 shops and restaurants, and 150,000+ square feet of additional commercial space. With many residents and tenants already calling 9th & Colorado home, this development has catalyzed increased interest and growth in an already sought-after area. In addition to new offerings brought by the 9th & Colorado development, the area already played host to several popular restaurants including Snooze, Chipotle, Mici Italian, Congress Park Taproom, Swing Thai, Anthony’s Pizza, and much more.
Less than Two Miles from Cherry Creek: Stone Garden on Birch is located less than two miles from Cherry Creek, offering residents excellent proximity to some of the best shopping and dining that Denver has to offer. Lined with a wide variety of restaurants, bars, cafes, boutiques, and casual- and fine-dining options, Cherry Creek is a vibrant entertainment district regarded as one of the best lifestyle hubs in Denver. Popular restaurants include, but are not limited to, Barolo Grill, Cherry Cricket, Cherry Creek Grill, Elway’s Steakhouse, Hillstone Restaurant, Nort Italia, True Food Kitchen, and many more.
Remarkable Market Fundamentals: Supported by significant population and job growth, Denver has routinely been identified as one of the most attractive rental markets in the county, for both investors and transplants, as the trend of secondary markets being preferred to primary markets continues. While many areas of Denver have record-high development pipelines, the Glendale University area submarket only has 338 units under construction. Lack of new deliveries has helped vacancy rates to stay 150+ bps below the Denver Metro average, with that trend expected to remain for the next two years. The Glendale University Area displays remarkable market fundamentals due to drivers in the submarket, including the University of Denver, and Glendale’s proximity to high-end Cherry Creek.
Significant Barriers to Home Ownership Driving Rental Demand: Driven by its significant population and job growth, paired with a high quality of life that attracts transplants from across the country, Denver has been named one of the country's top performing housing markets. The average sale price of homes in Denver went up by over 35 percent between 2020 and 2023 and has gone up by 55 percent since 2017. As Denver continues to attract residents seeking high-quality employment opportunities and a live-work-play lifestyle, home ownership will become increasingly unattainable. Stone Garden on Birch represents a classic, yet elevated apartment living experience that will come at a 76 percent discount to owning a home within one mile.