Crusoe is staking an even bigger claim in Cherry Creek, preleasing more than half of a brand-new office tower and effectively greenlighting the project for its developer. The Denver-born data center and AI infrastructure company will become the anchor tenant at Milwaukee Place, a move that signals steady demand for high-end space in one of the city’s tightest office submarkets and keeps the company’s local hub right in the middle of the neighborhood.
Crusoe is taking about 54,000 square feet in the seven-story Milwaukee Place at 242 Milwaukee St. and will hold onto its existing 38,000-square-foot headquarters one block away at 255 Fillmore St., as reported by BusinessDen. That reporting notes Crusoe has roughly 150 employees in Denver and expects to add around 200 more locally as it scales, a healthy sign that tech demand in Cherry Creek is not cooling off.
BMC Investments CEO Matt Joblon said the deal came together fast once both sides sat down. “We sat down, and I think it was done in a week,” he told BusinessDen, crediting the repeat relationship with Crusoe for helping push Milwaukee Place over the preleasing threshold BMC needed to start construction in October.
About Milwaukee Place
The project at 242 Milwaukee St. is planned as a roughly seven-story, 93,000 to 94,000-square-foot boutique office building with ground-floor retail and below-grade parking, according to developer materials. BMC Investments lists the site as in active development, and partner Brue Baukol Capital Partners has indicated the building is expected to be completed in 2027.
For BMC and its partners, landing Crusoe early brings the kind of stability every speculative office project wants. An anchor tenant of that size helps de-risk construction financing and sets the tone for the rest of the leasing, from upper-floor offices down to the street-level shops.
Why Cherry Creek
While downtown Denver wrestles with elevated office vacancies, Cherry Creek keeps playing by different rules. The neighborhood has held onto its reputation as one of the metro’s strongest office submarkets, which gives newly built, top-tier buildings a real advantage.
The Colorado Sun cites CBRE data showing Cherry Creek’s vacancy rate sits in the single digits, a number that helps explain why developers are still willing to bring speculative office space out of the ground here. If you are going to bet on the office in Denver, this is where a lot of money still likes to park.
Crusoe’s national footprint and funding
Crusoe’s Cherry Creek expansion is unfolding as the company scales nationally following a major funding round last fall. The firm announced that the deal pushed its valuation above $10 billion, according to its Oct. 24 press release. Yahoo Finance reported that the Series E raised roughly $1.375 billion, money that is fueling large projects such as the Stargate AI campus in Abilene, Texas.
Industry coverage notes that portions of the Abilene development are already live and that Crusoe is building at a gigawatt scale for major cloud partners. DatacenterDynamics reported that the Abilene campus is delivering multiple buildings and hundreds of megawatts of IT capacity.
Back in Cherry Creek, the expansion means more tech jobs and daytime foot traffic in a neighborhood that already punches above its weight in spending power. Crusoe’s added footprint will nearly triple its local office space, and the company has signaled plans to grow its Denver headcount to match. That kind of weekday population boost tends to be good news for nearby cafes, bars, and boutiques.
Milwaukee Place is slated for delivery in 2027, leaving a runway for tenant build-outs that will determine how quickly Crusoe fills its new space versus phasing in over time. BMC Investments says construction is underway, and Crusoe plans to keep its Fillmore headquarters operating while it scales into the Milwaukee tower.
