Chuck Perry has a national tenant that wants to light up a dark corner of the 16th Street Mall.
Burlington, formerly known as Burlington Coat Factory, is in talks with the Denver developer to lease 23,000 square feet on the ground floor of the Denver Dry Goods Building, at the corner of California and 16th streets.
The New Jersey-based company is the third-largest off-price retailer in the country, with over 1,100 stores from Puerto Rico to Alaska. It would be the store’s first location in Denver, though it has 17 spots elsewhere in the state, including in places like Aurora and Lakewood.
“We are working on a letter of intent with Burlington. Itap not signed, and the next step would be to finalize its terms and then to move to lease negotiations,” Perry said.
The deal isn’t a sure thing without some public assistance, though. Perry submitted an application to the Denver Downtown Development Authority last month for $3.4 million. The city affiliate is charged with reinvesting downtown sales and property taxes into businesses and development projects.
“The lease would be contingent on the funding of improvements to this space by the DDDA,” Perry added. “An application for such funding has been submitted and is currently being modified.”
Perry declined to comment further on the Burlington deal, citing its preliminary nature. Burlington also declined to comment. The DDDA application, obtained via an open records request by BusinessDen, pegs the total buildout of the 22,600-square-foot storefront at $10 million.
Perry stands in front of the Dry Goods building with Jana Humphries, who manages the building’s income-restricted residential units. (BusinessDen file)
The space at 710 16th St. was last occupied by a number of different tenants: Jason’s Deli, Aveda Institute (a cosmetology/beauty school), Visit Denver and Starbucks. Most shuttered or moved during the pandemic.
“The first-floor space in the Denver Dry Goods building has been particularly challenging to re-lease due to its size. A large anchor, national credit tenant is necessary to fully lease and utilize the floor plan,” the application reads.
“The Site is adjacent to Target, also on 16th and California, and Ross on 16th and Stout. This collection of national retailers within one block of each other creates a high performing retail node near the center of the 16th Street Mall, which is attractive to downtown residents, workers and convention visitors.”
Burlington, which is publicly traded, reported $3 billion in revenue in the second quarter of 2026, up 11% year-over-year. The company noted in its application that itap “performing strongly” financially. It is third in size to only TJ Maxx and Ross Stores.
TJ Maxx used to occupy space on the second floor of the Dry Goods Building. The oldest part of the structure was first built in 1888 and converted from department store to mixed-use development in 1994.
The 330,000-square-foot building is undergoing a second round of redevelopment. The former TJ Maxx space, along with 30,000 square feet of office space, is being converted into 55 new income-restricted apartments. They will join 51 existing income-restricted apartments, which are being refurbished. All will be reserved for those making between 30% and 80% of the area median income.
The $67 million project is nearing completion, according to Perry, who is managing partner of the development firm doing the work, Perry Rose LLC. Pre-leasing of the units began in September, with occupancy projected for mid-October, he said.
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