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 55-65 S. Colorado Blvd., two parcels that form the northwest corner of Colorado and Bayaud Avenue, for $3.2 million, according to public records.

The undeveloped site is 0.38 acres, so the deal works out to $191 a square foot.

McKinnon said the local buyer “will be utilizing the G-RO-5 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 development 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 2019 for $5.5 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 2020 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.